SBF’s Comeback on X Sparks 30% Surge in FTT Token, Here’s What He Posted

Now defunct cryptocurrency exchange FTX and its former CEO Sam Bankman Fried (SBF) were the talk of the town throughout 2022 and 2023. After SBF was jailed, the chatter around the exchange had slowed down. But the jailed founder made a comeback with a new post on X. This post has made headlines as SBF was posting through his account for the first time in two years. While the community wasn’t impacted by this tweet, the FTT token which is associated with the exchange recorded a massive uptick.

A Look Into SBF’s Tweet

SBF created a 10-tweet thread on X. This thread primarily discussed layoffs. perhaps in reference to Elon Musk’s demand that government workers email their job activities from the previous week or face termination. He started the thread by saying,

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It should be noted that SBF is currently serving a 25-year jail term after being found guilty on seven separate counts of fraud and conspiracy in November 2023. As his attorneys prepare to appeal, he is being held in Brooklyn’s Metropolitan Detention Center. SBF may send messages using the Corrlinks system. This allows inmates in the United States to interact with one another, even if he does not have direct access to websites like X or email.

The latest string of tweets was about the administration of Donald Trump and its choice to lay off thousands of government employees. Days after Trump’s White House increased layoffs, focusing on federal agencies, defense workers, and research departments, he made these remarks.

5) Maybe we just didn’t really have anyone free to manage them right then. Maybe they worked best remotely, but our company communicated in-person. Maybe they wanted to work on a particular project, and it just wasn’t what the company needed.

In addition, the community had mixed reactions to this thread. However, according to CEHV founder Adam Cochran, SBF’s attorneys might have written this as part of a public relations campaign. This could be his efforts to get a pardon.

FTX’s Token and its Rise

CoinMarketCap revealed that the FTT token no longer has any use. Yet, the asset surged from a low of $1.53 all the way to a high of $2.12. This occurred over the past 24 hours. At the time of writing, FTT was trading at $1.66. However, the asset was undergoing a correction and had dropped by nearly 6% throughout the last day.