Title: SBF Buys Investor Tesla After Saying FTX Still Has a ‘Few Billion’

Jul 07, 2022 04:00AM ET

By: AnalysisWatch

Sam Bankman-Freed keeps his promise to buy a Tesla for crypto joker Greg.

Last week, Greg challenged SBF to buy him a Tesla if he could type more than 100 words per minute

FTX's CEO says the company still has "several billion" to back struggling crypto companies.

After saying that crypto exchange FTX still has "a few billion" to support struggling firms, Sam Bankman-Freed stayed true to his word to buy the crypto world's famous comedian, Greg, his own Tesla.

Contrary to Greg's statement, the Bugatti Super Sport is the fastest car, topping out at 305 mph. However, the Model S is one of the fastest electric cars on the market.

Billy Marcus, the founder of Dogecoin, congratulated Greg and jokingly reminded the cryptohawk about the $67,500 in taxes. Marcus retracted his tweet, saying FTX may have paid for it and that he was unaware of how corporate gift taxes work.

Last week, the crypto-comic ventured to buy Bankman-Fried Tesla if they could type more than 100 words per minute, which they accomplished with ease.

The exchange between the two stemmed from a Bankman-Fried tweet about typing speed and its relationship to productivity.

Much earlier, Bankman-Fried said that he and FTX still have "a few billion" in the bag to support distressed crypto firms that could destabilize the digital asset sector.

In recent weeks, the FTX CEO has extended his help to asset platforms that faltered when cryptocurrency prices plunged.

Those firms are generally not in dire straits, though some smaller crypto exchanges may still fail, he said, adding that the industry has moved beyond "other big shoes to drop."

Voyager Digital and BlockFi recently received financial backing from Bankman-Freed's firms Alameda Research and FTX, respectively. He said the goal of the bailouts was to protect client assets and stop bankruptcy from spreading throughout the crypto space.