Former FTX founder Sam Bankman-Fried made a rare social media appearance on X, leading to a brief surge in FTT token price.
Sam Bankman-Fried Returns to Social Media
On February 25, Sam Bankman-Fried posted his first message in a long time on social media platform X. In his post, he humorously compared his absence to government layoffs, implying receiving a mailing from the Department of Government Efficiency.
Market Reaction to the Post
Although the post was unrelated to FTX or its bankruptcy proceedings, the token's price jumped from $1.63 to $2.03, according to CoinGecko data. However, the increase was short-lived, with the price falling back to $1.72 within half an hour.
Ongoing Legal Proceedings
Sam Bankman-Fried continues to serve a 25-year prison sentence in Brooklyn, issued in March 2024 for fraud and conspiracy. His legal battles persist, with speculation about a possible presidential pardon making rounds in the press.
Despite the immediate impact of Sam Bankman-Fried's post, the situation surrounding FTX and his legal case remains complex. His return to social media brought him back into the spotlight, yet legal challenges stay unaddressed.
