A post on Sam Bankman-Fried's X-account triggered a 32% rise in FTT token overnight

On Tuesday evening, September 23, a short post «gm» («good morning») appeared from the verified account of Сем Бенкман-Фрід" href="https://noworries.news/biography/sem-benkman-frid/" data-bio-id="3697">Sam Bankman-Fried (SBF) on the social network X, which immediately caused a resonance in the crypto community. The post was made in response to the fact that inmates in US federal prisons do not have access to social media. Later, the comments clarified that Benkman-Fried did not publish the post himself, but rather his friend did so on his behalf.

Against this backdrop, FTT, the native token of the bankrupt FTX exchange, rose by 32% to $ 1.10. Daily trading volumes increased almost sixfold, from $ 10.4 million to $ 59 million, according to CoinGecko. Despite losing its practical value after FTX’s bankruptcy in 2022, FTT continues to attract speculative traders as the company’s assets are liquidated.

Bankman-Fried, the founder and former CEO of FTX, is serving a 25-year sentence in federal prison on seven counts of fraud and conspiracy. His last activity on X dated back to a few months earlier, when he published a series of posts about staff reductions and business problems.

On the same day, the FTX Recovery Trust filed a $ 1.1 billion lawsuit against mining company Genesis Digital Assets, accusing it of receiving preferential payments before the exchange’s collapse. In addition, the third major round of payments to creditors is expected on September 30, amounting to about $ 1.6 billion for confirmed claimants.

Bankman-Fried is currently being held at Terminal Island Prison in Los Angeles. According to the Federal Bureau of Prisons, inmates can only use the secure TRULINCS system for text communication, but do not have access to the open Internet. Posts on social media are usually made through lawyers or friends who distribute the messages sent.