“What”: a simple response of the influencer Crypto Gainzy has roughly summarized the feeling when the notorious The fraudster condemned Sam Bankman Frit, or SBF, apparently published on social networks after a long break (and despite his prison).
To make matters worse, the token linked to the disappearance of Crypto Exchange FTX has jumped almost 24% in the past 24 hours, after its X account published a simple “GM” on Tuesday.
This simple message seems to have been considered an opportunity by speculative crypto traders to pump the FTT token, which now has no value associated with it, almost 50% to 60% in minutes, reaching a peak of around $ 1.20 to $ 1.23. Despite his incarceration and clarification that the post was made by a “friend” on his behalf, the token is still up 25%, merchant about $ 1.014, according to Coindesk data.
The FTT token also noted a sharp increase in activity and trading volumes after the position, according to data compiled by the link.
The number of active addresses reached 201, considerably exceeding the monthly average of 56, depending on the link. In addition, centralized exchange deposits have doubled, reaching 13, while withdrawals have quadrupled at 38 compared to the monthly average, he added.
‘Wen memecoin’
The cryptographic community of X reacted quickly with anger, skepticism and humor at the SBF post.
One of the most scathing answers came from the ZachxBt chain investigator. In a post now deleted, he condemned the SBF, declaring that he “did not deserve any human rights” due to the damage caused by the collapse of the FTX. Its point of view reflects a segment of the persistent resentment of the community towards the collapse of the FTX, which harm investors who still expect some of their funds from its bankruptcy and the wider community of cryptography.
Read more: Who won and lost the most in the criminal regime of Sam Bankman Fried?
Other members of the community, including Laura Shin, made fun of the sudden activity of SBF social media, saying: “It’s so 2021”.
Meanwhile, Arthur Hayes, the co-founder of Bitmex who now directs the Crypture Fund Maelstrom, took a humorous blow, answering “Wen Memecoin?” – A reference probably fun to speculative nature and focused on the memes of FTT token overvoltage after the unexpected SBF post. This potentially underlines the opinion that the price movement concerned market psychology more than substance.
Not the first time
The elevation of the FTT token – Once a key token for discounts on the negotiation costs and the advantages of the implementation of the FTX exchange – has been largely sleeping since the spectacular implosion of the platform which inaugurated a brutal cryptographic winter which has devastated many investors.
However, strangely, this is not the first time that has happened. The same thing took place in February of last year, when the SBF account was published on X for the first time in two years. At the time, he was detained in the metropolitan detention center in Brooklyn, and his lawyers worked by calling for his conviction (The call is underway, with arguments currently scheduled for November 2025).
The new message on social networks also came while the FTX succession continues to work to reimburse the creditors.
The FTX Recovery Trust is expected to release $ 1.6 billion to the creditors at the end of this month, marking the third major payment since the implosion of the Crypto Exchange almost three years ago.
This recent activity, although potentially short -lived, shows that the token always reacts strongly to headlines and feelings – in particular those linked to its controversial founder.
Read more: private jets, political species among $ 1 billion in the lost assets of Sam Bankman: Court
