FTX CEO says he is willing to discuss Twitter’s development with Elon Musk

FTX CEO Sam Bankman-Fried proposed changing the ‘broken model’ of social media through blockchain. For this, he is ready to discuss with Elon Musk the possibility of interaction between Twitter and a Bitcoin exchange, Bloomberg reports.

In an interview, Bankman-Fried said that he had not yet had a substantive discussion on this with the founder of Tesla, but would welcome such an opportunity.

“What is the moderation policy? The executives of three companies decide what can be censored and what cannot. This is a ‘flawed model.’ It is now a highly tangled system in which there is no interaction between different platforms. You can\’t see a tweet on Facebook. If you send a message to someone on Facebook, WhatsApp cannot read it, though it is the same company”, he said.

To safeguard freedom of speech, Bankman-Fried proposed creating a system in which each social network could receive basic data from the same source and independently decide on censorship. He emphasised that the move would spur competition by leveling the playing field between platforms with large user bases and those just starting out.

As previously reported, Musk became the largest shareholder in Twitter after acquiring 9.2% of the shares for $2.89 billion. On April 14, the billionaire proposed to buy the platform for more than $43 billion. He explained this as being with the aim of creating an ‘inclusive arena for freedom of speech’, rather than a desire to make money.

In response to the attempted hostile takeover, Twitter’s management approved a defence plan. It позволяет shareholders to buy additional shares at a discount in the event of acquisition by any organisation or individual of more than 15% of the company’s securities without board approval.

Subscribe to ForkLog’s channel on YouTube!