Dogecoin Co-founder And Elon Musk Take A Dig At SBF’s $700M Confiscation

Dogecoin Co-founder And Elon Musk Take A Dig At SBF’s $700M Confiscation

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The friendship between the Dogecoin co-founder, Billy Markus, and the Tesla CEO, Elon Musk dates Back to a time that one can’t remember. Time and again they have showcased their bond on social media. However, this time it was no different.

Sam Bankman-Fried (widely known in the crypto space as SBF), the founder of the troubled FTX exchange, was reportedly the target of prosecutors from the DOJ, according to a recent THW report. The article cites a court filing from last Friday.

The Dogecoin co-founder tweeted the report along with a humorous comment in which he referenced SBF when the FTX founder claimed in court that he had just $100,000 left over from his billions. The money taken from SBF that was previously disclosed was primarily in the form of Robinhood shares.

Elon Musk, the CEO of Tesla and Twitter, responded to that with two ROFL emojis. When FTX and its founder SBF were accused of scamming investors and the exchange went bankrupt, both Musk and Markus were harshly critical of both parties.

SBF was accused of using substantial amounts of USD from FTX members to save his crypto trading company Alameda Research, however, he pleaded innocent to the accusations. In the fall of this year, he will stand trial for this.

The US Department of Justice (DOJ) announced the confiscation of Bankman-Fried’s assets earlier this year. The majority of them were held in the form of Robinhood shares (HOOD), but there were also monies in several banks and crypto deposits on the Binance cryptocurrency exchange.

Federal prosecutors from the DOJ, in particular, last week seized around $100 million from SBF’s accounts, which he kept in Silvergate Bank connected to FTX Digital Markets, an FTX company with headquarters in the Bahamas.

Dogecoin Fan, Musk Refused SBF’s $5B Offer

Sam Bankman-Fried contacted Elon Musk earlier last year to offer him a $5 billion investment to help him acquire the social media company, long before FTX’s problems became apparent to everyone in the market. He also assisted with the transition of Twitter to blockchain rails.

The Dogecoin (DOGE) supporter, Musk, rejected his offer with the money, explaining to him that putting Twitter on a blockchain was not possible. Musk purchased Twitter outright for a total of $44 billion; the agreement was signed in late October of last year.

At the time of writing, Dogecoin was priced at $0.08651 with a hike of 6.73% over the last 24 hours, as per Coin Market Cap (CMC).

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