Even from prison, Sam Bankman-Fried moves markets. A simple tweet ignited FTT, proving speculation still reigns supreme in crypto.
FTT's Wild Ride: SBF's 'gm' Sparks Crypto Jump—Again!
Even behind bars, Sam Bankman-Fried (SBF) continues to stir the crypto pot. His recent, albeit indirect, activity on social media sent the FTT token on another rollercoaster. What's going on?
'gm' Heard 'Round the Crypto World
On September 24, 2025, SBF's X account posted a simple “gm” (good morning). The kicker? It wasn't SBF himself, but a friend posting on his behalf. Yet, that was enough to make FTT jump over 55%! It settled down around $0.99, but the point is clear: SBF's shadow looms large.
Speculation Over Substance
This isn't the first time SBF's online activity has jolted FTT. Remember February 2024? A similar post from the Metropolitan Detention Center in Brooklyn triggered a short-lived rally. It highlights a key trend: in certain corners of crypto, hype and headlines can outweigh, you know, actual value.
Community Reaction: From Forgiveness to Fury
The crypto community's response was a mixed bag. Ikigai Asset Management's Travis Kling urged forgiveness for SBF. Others weren't so forgiving. On-chain investigator ZachXBT (in a now-deleted post) expressed outright anger, reflecting the deep resentment that lingers after the FTX collapse. Arthur Hayes of BitMEX chimed in with a cheeky “Wen memecoin?” poking fun at the speculative frenzy.
Data Doesn't Lie: Activity Spiked
The Tie, a blockchain analytics firm, reported a surge in on-chain activity. Active addresses soared, centralized exchange deposits doubled, and withdrawals quadrupled. Translation? Traders rushed in to make a quick buck. It's a classic case of opportunistic trading fueled by news.
FTT: Zombie Token?
FTT was once the utility token of FTX, offering fee discounts and staking perks. Now? It's largely dormant. Yet, it keeps rising from the dead whenever SBF's name pops up. The FTX Recovery Trust is working on repaying creditors (expecting to release $1.6 billion soon), but FTT holders? Their fate remains uncertain.
My Take: The Meme is the Message
Let's be real. FTT's price jumps aren't about fundamentals. They're about the meme. SBF, for better or worse, is a meme in the crypto world. His actions, even indirect ones, generate buzz. And in crypto, buzz can translate into bucks—at least for a little while. Will this continue? Probably, until people forget.
Looking Ahead (Maybe With Popcorn)
SBF's appeal is scheduled for November 2025, so his name will likely stay in the headlines. Will FTT jump again? Who knows! But one thing's for sure: the FTT saga is a reminder that crypto markets can be weird, wild, and driven by forces beyond logic. So buckle up, folks. It's gonna be a bumpy ride! And maybe invest in some popcorn, just in case.
