FTT, the native token of the defunct crypto exchange FTX, surged 25% in 24 hours to reach a four-month high of $1.20 before retreating to $1.02. The dramatic price spike appears linked to a social media post from Sam Bankman-Fried’s account, which broke months of silence with a simple “gm” message on September 24.
The post sparked confusion since Bankman-Fried is serving a 25-year prison sentence for orchestrating one of the largest financial frauds in history. Hours later, a clarification appeared stating that a friend was posting on his behalf, not Bankman-Fried himself from prison.
This marks the second time this year that activity on Bankman-Fried’s account has triggered significant FTT price movements. Earlier, a ten-part thread about employment issues caused another major pump, with posts discussing government layoffs and corporate hiring practices. Some observers speculated the activity might be an attempt to seek a presidential pardon from Donald Trump, who recently pardoned Silk Road creator Ross Ulbricht.
FTX collapsed in late 2022, causing multi-billion-dollar losses for creditors and sending shockwaves through the crypto industry. The FTX Recovery Trust has been working to compensate affected users, with the next distribution phase beginning September 30. Smaller creditors and retail traders will recover approximately 120% of their claims, while US customers will receive 95% total recovery and international users 78%. General unsecured claims will be repaid at 24%, bringing overall recoveries to 85%.
Автор
- Web |
- More Posts(167)