78 Interactions, 2 Today
In January, Sam Bankman-Fried made a well-publicized bid to purchase Solana tokens. Did anyone take him up on his offer?
For his swagger and investment skill, Sam Bankman-Fried has become immensely prominent in the crypto community. Bankman-Fried, the inventor of the famed FTX exchange and also known as SBF in the business, is a daring trader who enjoys placing long-shot wagers.
SBF made one such bet in January in a Twitter exchange with a crypto investor who goes by the handle Coinmamba. The exchange began after Coinmamba established a bearish position in Solana, a new blockchain with a native cryptocurrency, SOL, fluctuating between $2 and $3. In response, SBF made a number of public offers to purchase Coinmamba’s stake in SOL.
The exchange’s final tweet was a mic-drop moment, with SBF stating, “I’ll purchase as much SOL as you have right now at $3 per unit. You can sell me anything you want. Then go fuck yourselves.”
Because of what has happened since, the tweet has become legendary in crypto circles. This Thursday, Bloomberg journalist Joe Weisenthal revived it when the price of Solana approached $170. SOL reached a high of more over $200 per coin earlier this week.
However, while the tweet has received a lot of attention, one critical point remains unanswered: Did Coinmamba, or anybody else, take SBF up on his January offer to buy all of their SOL tokens?
If the transaction went through, it would be remembered as one of history’s greatest trades—the crypto equivalent of Gary Paulson shorting the US subprime mortgage market in 2008, or Warren Buffett obtaining warrants to buy Goldman Sachs stock on the cheap during the financial crisis, both of which saw those legendary money men make billions.
To find out what happened after his famous tweet, Decrypt contacted SBF and asked if anyone had sold him their SOL holdings for $3.
“Alas, they didn’t,” he replied.
Coinmamba, meanwhile, could not be reached. Since the famous Twitter exchange, he has set his account to private—presumably to tune out the hoards of Solana bulls looking to dunk him—so it’s unclear if he still holds his SOL stash or if unloaded it to someone else on the cheap.
As for SBF, he’s already become a billionaire in a matter of two years, so we suspect he will be just fine.