FTT Token Surges After SBF’s Surprise Social Media Post Despite Jail Time

Convicted FTX founder Sam Bankman-Fried (SBF) unexpectedly resurfaced on social media this week, sparking chaos in the crypto markets. A single “gm” post from his X account—despite SBF being in prison—sent the defunct FTX token (FTT) soaring nearly 60% within minutes, peaking at around $1.20–$1.23 before stabilizing near $1.01, still up more than 25% in 24 hours, according to CoinDesk data. The post was later clarified to have been made by a “friend” on his behalf, but speculative traders had already seized the opportunity to pump the long-dormant token.

Market data from analytics platform The Tie showed FTT activity spiking sharply after the post. Active addresses jumped to 201 versus the monthly average of 56, centralized exchange deposits doubled to 13, and withdrawals quadrupled to 38. The speculative frenzy underscored how fragile and sentiment-driven the token remains despite having no underlying utility since FTX’s collapse.

The crypto community’s reaction on X ranged from anger to mockery. On-chain sleuth ZachXBT harshly criticized SBF in a since-deleted post, while journalist Laura Shin mocked the outdated nature of the comeback. BitMEX co-founder Arthur Hayes leaned into humor with “Wen memecoin?”—a nod to the meme-driven speculation that fueled the rally.

This isn’t the first time SBF’s account activity has sparked market movement. A similar surge occurred in February 2024 when his account posted after years of silence, even as he awaited appeal proceedings. Currently, his legal team is preparing for appeal arguments scheduled for November 2025.

Meanwhile, the FTX estate continues efforts to repay creditors, with $1.6 billion set for distribution this month through the FTX Recovery Trust. Despite its collapse, the FTT token still reacts to headlines linked to its disgraced founder, highlighting the ongoing volatility and speculative nature of the crypto market.