© Reuters
Investing.com – Following Friday’s announcement of FTX’s bankruptcy, and in the face of intense suspicions of a massive hack since Friday night, Twitter boss Elon Musk (NYSE:) took to his own social network to comment on the case.
He also did not fail to mention Dogecoin, his favorite crypto, which had a clear bullish impact on the price of .
Just hours after the apparent hack began on Friday night, Musk tweeted, “FTX collapse/trashing is being followed live on Twitter.”
Then, on Saturday morning, Elon Musk took part in a Twitter Space with over 60,000 listeners about the FTX hack and his take on his boss Sam Bankman-Fried.
“To be honest, I had never heard of him,” Musk said.
“But then a ton of people told me [qu’] he has, you know, huge amounts of money that he wants to invest in the Twitter business. And I talked with him for about half an hour. And I know my bullshit counter was red. It was like, this guy is bullshit – that was my impression.”
“Everyone, including the big investment banks – everyone was talking about him like he was walking on water and had a zillion dollars. And that [n’était] not my impression… this guy is fair – there is something wrong, and he has no capital, and he won’t make it. That was my prediction,” Musk added.
Elon Musk also advised crypto investors to keep their assets themselves in cold wallets not connected to the Internet, rather than leaving them open to potential hacks on the platforms:
“I reaffirm that, if you have crypto, you should have it in a directly accessible cold wallet. Not on an exchange,” Musk said, adding, “That would be wise.”
Finally, note that Musk has nevertheless renewed his conviction vis-à-vis cryptocurrencies despite this week’s scandal:
“I think there’s probably a future for the , the and the DOGE. I can’t really speak to the others. But if you have any of those three in a cold wallet, and out of an exchange, I think it works well,” he said.
Note that while Ethereum and Bitcoin did not react, Dogecoin took off, posting at the time of writing a gain of more than 7% over 24 hours, one of only 3 top 20 cryptos to show up in the green.