FTX’s humiliated founder Sam Bankman-Fride, posted on X for the first time in two years, triggers 30% spike at the price of FTT, the country’s native token.
In 25 x post on 25 February, Bankman-Fride jokingly said about not checking his email for hundreds of days, which attracts the sorting compared to government employees. The SBF was probably referring to an email campaign from the US government’s efficiency department, in which federal employees needed to justify their roles.
“Firing is one of the most difficult things in the world. This is useless for all involved, “he wrote that the trimming is often the failure of the management rather than the employees.
While the post had nothing to do with FTX (FTT) or its bankruptcy proceedings, it immediately affected the price of FTT, which jumped from $ 1.63 to 2.03 within minutes, data From coingecko.
However, the rally was short -lived, with FTT retreated by $ 1.72 within half an hour. The token exceeds 97% from its all-time high to $ 85.02 from 97%, which was recorded in September 2021 before the FTX collapse.
This was SBF’s first public statement since January 2023, when he posted his draft Congress testimony. Their legal battle continues, FTX is still running in case of bankruptcy and the creditors are waiting for repayment.
The post comes in the midst of speculation that his parents, Professor Joseph Bankman of Stanford Law and Barbara Fried, are demanding presidential post for their son. Bloomberg Informed On January 30, SBF’s parents met with lawyers and individuals associated with the administration of Donald Trump to find out a potentially pupil deal.
SBF was sentenced to 25 years in jail in March 2024 after being found guilty in several cases of fraud and conspiracy. While his sentence is being challenged in court, he is currently serving his sentence at Brooklyn Metropolitan Detention Center.
