FTT Jumps 25% later than Sam Bankman-Fried’s Account Posts “gm”
Speculative Surge Despite Incarceration
The controversial FTT token, once the utility token of the collapsed FTX platform, surged as much as 25% in 24 hours later than a social media post appeared from the account of convicted FTX founder Sam Bankman-Fried (SBF). The post—a simple “gm”—was enough to send the token sharply higher despite the fact that Bankman-Fried remains in prison.
Traders jumped on the sudden activity, pushing FTT nahead 50–60% higher within minutes, peaking at about $1.20–$1.23 before easing back. Even later than clarification that the message had been posted by a “friend” on his behalf, FTT held onto gains and was last trading around $1.014, according to CoinDesk data. The market response highlights how speculative dynamics continue to dominate certain corners of and headlines can outweigh fundamentals.
Investor Takeaway
Community Reaction: Humor, Anger, and Skepticism
The crypto community on X reacted swiftly and with mixed emotions. Influencer Gainzy summed up the sentiment with a single-word reply: “What.” On-chain investigator ZachXBT, in a now-deleted post, expressed anger, declaring that SBF “deserves zero human rights” given the damage caused by FTX’s collapse, which wiped out billions in investor funds and remains one of the most infamous scandals in crypto history.
Other voices leaned toward humor. Journalist Laura Shin quipped, “That’s so 2021,” mocking SBF’s sudden online presence. Meanwhile, Arthur Hayes, co-founder of BitMEX, replied with “Wen memecoin?”—a jab at the speculative, meme-like nature of the price surge. Collectively, the reactions underscored both deep resentment toward Bankman-Fried and recognition that the FTT rally had little to do with fundamentals.
Trading Activity Spikes later than Post
Blockchain reported a surge in on-chain activity. The number of active addresses jumped to 201, far exceeding the monthly average of 56. Centralized platform deposits doubled to 13, while withdrawals quadrupled to 38 compared to normal activity. The data suggests opportunistic traders rushed in to capitalize on the spike, reflecting how rapidly speculative energy can flow into dormant breaks.
FTT’s trading volume also expanded rapidly, amplifying the impression that headlines linked to SBF remain a catalyst even long later than FTX’s collapse. Observers noted that such surges are typically short-lived but demonstrate the token’s residual speculative pull.
Investor Takeaway
History Repeats Itself
This is not the first time a post from SBF’s account has jolted FTT. In February 2024, later than two years of silence, the account briefly reactivated while he was detained at the Metropolitan Detention Center in Brooklyn. That incident also fueled a short-lived rally. His ongoing appeal, with arguments scheduled for November 2025, continues to keep his name in the headlines, occasionally triggering speculative bursts around the token.
Meanwhile, the repayments. At the end of this month, $1.6 billion is expected to be distributed, the platform collapsed in late 2022. The ongoing bankruptcy process provides little clarity for token holders, as FTT itself remains disconnected from any functional platform or future role in the reorganized estate.
FTT’s Legacy and the Speculative Cycle
FTT was once a central piece of FTX’s trading ecosystem, offering fee discounts and staking benefits. Since the platform’s collapse, the token has become largely dormant and devoid of intrinsic value. Still, its periodic resurrections tied to SBF’s notoriety highlight how narratives and memes can drive speculative cycles in crypto.
