ChainCatcher news, according to The Block, "The Big Short" author Michael Lewis disclosed in his new book "Going Infinite" that SBF met with the Prime Minister of the Bahamas to discuss repaying the country's entire national debt of approximately US$10 billion.
Lewis claimed that FTX moved its headquarters from Hong Kong to the Bahamas in 2021, in part due to the Chinese government’s crackdown on cryptocurrencies. SBF chose the Bahamas as its domicile because the country has implemented regulations that would legalize the crypto industry. SBF developed a plan to repay the Bahamas national debt, thereby improving the country’s infrastructure and providing a more attractive work and living environment for FTX employees. The idea was discussed during a meeting with Bahamas Prime Minister Philip Davis, the book states.
In addition, SBF had planned to apply for a $1 billion loan from Morgan Stanley to invest in Musk’s acquisition of Twitter, and planned to use FTT tokens as collateral. Lewis said Musk turned to SBF for help raising $44 billion for the deal. SBF suggested to former FTX executives Nishad Singh and Ramnik Arora that between $250 million and $1 billion should be invested in Twitter, but the two executives opposed it. However, SBF ignored their advice and asked Morgan Stanley if it would lend him $1 billion to invest in Twitter, using FTT as collateral.
