Sam Bankman-Fried Returns to X, FTT Surges for a Moment!

Jakarta, Pintu News – After two years of disappearing from social media, Sam Bankman-Fried, the scandalized founder of FTX, came back with a post on X. Although it only talks about firing employees, its effect on the crypto market is significant.

FTX’s native token, FTT, experienced a 30% price spike within just a few minutes of the post. However, this increase didn’t last long, showing how volatile the crypto market is right now.

Check out the full news below!

SBF posts on X

Sam Bankman-Fried restarted his activity on X with a thread consisting of 10 tweets discussing firing employees. In the thread, he stated that firing people is one of the hardest things in the world.

He also alluded to an email campaign from the US Government Efficiency Department asking federal employees to justify their roles. While not directly related to FTX or its bankruptcy proceedings, this post directly impacted the price of the FTT token.

Bankman-Fried is serving a 25-year sentence and reportedly uses the Corrlinks system to send messages. His latest post has led to speculation that perhaps his legal team wrote it as part of a public relations campaign.

The community’s reaction to this thread was mixed. Some were supportive, while others were skeptical of the true motives behind the post.

Read also: Cardano ETF by Grayscale, A Big Step Toward Wider Adoption?

FTT Price Surges and Declines

According to data from CoinGecko, the price of FTT jumped from $1.63 to $2.03 in just a few minutes after Bankman-Fried’s post. However, this rise was short-lived, with the token price dropping back down to $1.72 within half an hour.

Despite the brief increase, FTT is still far below its highest price of $85.02, reached in September 2021 before the FTX crash. CoinMarketCap also noted that FTT had risen from $1.53 to $2.12 in the last 24 hours.

At the time of writing, FTT is trading at $1.66, representing a drop of almost 6% over the past day. These fluctuations show how sensitive the crypto market is to news relating to big figures like Bankman-Fried.

Read also: Dark February for Ethereum (ETH), Will it Record the Worst Decline?

SBF Liberation Speculation

There is speculation that SBF’s parents, who are Stanford law professors, are seeking a presidential pardon for their son.

Bloomberg reports that SBF’s parents have met with lawyers and individuals associated with the Donald Trump administration to explore a pardon deal.

Although SBF was sentenced to 25 years in prison in March 2024 on various fraud and conspiracy charges, legal efforts to overturn the verdict are still ongoing.

Conclusion

Sam Bankman-Fried’s return to social media and its impact on the crypto market shows how important central figures are in this market dynamic. Although short-lived, FTT’s price spike confirms that statements from figures like SBF still have the power to move markets, even in volatile conditions.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• Crypto News. Sam Bankman-Fried Posts, FTX Token Soars. Accessed on February 26, 2025
• Watcher Guru. SBF’s Comeback on X Sparks 30% Surge in FTT Tokens – Here’s What He Posted. Accessed on February 26, 2025
• Featured Image: The Post Millennial