“What”: A simple response from cryptoin fluencer -Gainzy buzzed pretty much the mood when the infamous The convicted scammer Sam Bankman-Fred or SBF, apparently published on social media after a long hiatus (and despite being in prison).
To make things worse, it rose token that was linked to the abrasive crypto exchange FTX, almost 24% over the past 24 hours after his X account sent a simple “GM” on Tuesday.
This simple post seems to have been taken as an opportunity by speculative crypto traders to pump the FTT token, which now has no value associated with it, almost 50% -60% within minutes and reaches a highlight of about $ 1.20- $ 1.23. Despite his imprisonment and clarification that the position was made by a “friend” on his behalf, the token has still risen by 25%and trades by about $ 1,014, according to Coindesk data.
The FTT token has also seen a sharp increase in activity and trading quantities after the post, according to data prepared by a draw.
The number of active addresses reached 201, which significantly exceeds the monthly average of 56, said a draw. In addition, the centralized exchange deposits doubled and reached 13, while the withdrawal quadrupled to 38 compared to the monthly average, it added.
‘Wen Memecoin’
The Crypto Society on X quickly responded with anger, skepticism and humor to SBF’s posts.
One of the most funny answers came from on-chain investigator Zachxbt. In a now-plated post, he condemned SBF and said he “deserves zero human rights” due to the damage caused by FTX’s collapse. His perception reflects a segment of society’s lingering resentment against FTX’s collapse that hurts investors still waiting for some of their funds from its bankruptcy estate and the wider crypto community.
Read more: Who won and lost most in Sam Bankman-Fred’s criminal scheme?
Other members of the community, including Laura Shin, mocked SBF’s sudden social media activity and said, “It’s then 2021.”
Meanwhile, Arthur Hayes, Bitmex co-founder, now drives Crypto Venture Fund Maelstrom, a humorous jab and replied “Wen Memecoin?” -A probable playful reference to the speculative, meme-driven nature of the wave in the FTT token after SBF’s unexpected posts. This potentially emphasizes a perception that the price movement was more about market psychology than substance.
Not the first time
The wave in the FTT -token -once a key tool to discounts on commercial fees and inserted benefits on the FTX exchange -has largely been sleeping since the spectacular implosion of the platform that initiated a brutal crypto winter that destroyed many investors.
However, it is strangely not the first time this has happened. The same unfolded in February last year when SBF’s account was published on X for the first time in two years. At that time he was detained in the Metropolitan Detention Center in Brooklyn and his lawyers worked through an appeal of his conviction (The appeal is undergoing arguments currently scheduled for November 2025).
The new social media post also came as the FTX property continues to work to repay creditors.
The FTX Recovery Trust is set to release $ 1.6 billion to creditors at the end of this month marking the third major payout since Crypto Exchange’s implosion almost three years ago.
This recent activity, although potentially short-lived, shows that the token still responds sharply to headlines and emotion-unparallel those bound to its controversial founder.
Read more: Private Jets, political cash among $ 1b in Sam Bankman-Fred’s lost assets: Court
