🌎 FTT Price Jumps 30% After SBF’s X Post

Sam Bankman-Fried Breaks Silence on X, Sparking FTT Price Surge

Sam Bankman-Fried, the founder of FTX, has made his first public statement in nearly two years, posting on X on February 25. The message caused a 30% price spike in FTT, the exchange’s native token.

Bankman-Fried’s Post Sparks Speculation

In his X post, Bankman-Fried joked about not checking his email for hundreds of days, drawing a comparison to government employees facing layoffs. He wrote, “Firing people is one of the hardest things to do in the world. It sucks for everyone involved,” adding that layoffs are often a failure of management rather than employees themselves.

I have a lot of sympathy for gov’t employees: I, too, have not checked my email for the past few (hundred) days. And I can confirm that being unemployed is a lot less relaxing than it looks.

Despite the post having no direct relation to FTX or its bankruptcy proceedings, it immediately impacted FTT‘s price. According to data, the token jumped from $1.63 to $2.03 within minutes, only to retreat to $1.72 within half an hour.

FTT’s Price Remains Volatile

The token remains down over 97% from its all-time high of $85.02, recorded in September 2021 before FTX‘s collapse. This price volatility is a reminder of the cryptocurrency market’s unpredictability.

Bankman-Fried’s post comes amid ongoing speculation about his parents, Stanford Law professors Joseph Bankman and Barbara Fried, seeking a presidential pardon for their son. His legal battles continue, with FTX‘s bankruptcy case still ongoing and creditors awaiting repayment.

Bankman-Fried’s Current Situation

SBF received a 25-year prison sentence in March 2024 after being found guilty of multiple counts of fraud and conspiracy. While his conviction is being challenged in court, he is currently serving his sentence at the Brooklyn Metropolitan Detention Center.

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