Sam Bankman-Fried Posts on X for the First Time in Two Years, Triggering a 30% Spike in the Price of FTT

Sam Bankman-Fried, the disgraced founder of FTX, posted on X for the first time in two years, triggering a 30% spike in the price of FTT

Disgraced FTX founder Sam Bankman-Fried (SBF) posted on X for the first time in two years, which triggered a 30% spike in the price of FTT, the exchange’s native token.

In his Feb. 25 X post, SBF joked about not having checked his email for hundreds of days, drawing a comparison to government employees facing layoffs. SBF was possibly referencing an email campaign from the U.S. Department of Government Efficiency that aimed to downsize the federal workforce through a voluntary early retirement program.

“Firing people is one of the hardest things to do in the world. It sucks for everyone involved,” SBF wrote, adding that he believes layoffs are more a failure of management than the employees themselves.

1) I have a lot of sympathy for gov’t employees: I, too, have not checked my email for the past few (hundred) days

And I can confirm that being unemployed is a lot less relaxing than it looks

While the post didn't mention FTX, its bankruptcy or anything related, it quickly impacted FTT's price, which jumped from $1.63 to 2.03 within minutes, according to data from CoinGecko.

However, the rally was short-lived, with FTT quickly retreating to $1.72 within half an hour. The token is still down over 97% from its all-time high of $85.02, which was recorded in September 2021, just months before FTX collapsed.

This was SBF's first public statement since January 2023, when he posted about his drafted congressional testimony. His legal battles have continued, with FTX's bankruptcy case still unfolding and creditors awaiting repayment.

The post also comes amid reports that SBF's parents, Stanford Law professors Joseph Bankman and Barbara Fried, are seeking a presidential pardon for their son. Bloomberg reported on Jan. 30 that SBF's parents had met with lawyers and individuals connected to Donald Trump's administration to discuss a possible clemency deal.

SBF was sentenced to 25 years in prison in March 2024 after being found guilty of multiple counts of fraud and conspiracy. While his conviction is being appealed in court, SBF is currently serving his sentence at the Brooklyn Metropolitan Detention Center.