Sam Bankman-Fried’s X Account Comes Alive, FTT Token Skyrockets, Raising Eyebrows and Fresh Legal Drama
The social media account of the fallen founder of FTX, Sam Bankman-Fried has came alive yesterday, with its sudden revival sending FTX’s token FTT soaring by 32% and sparking heated debate over prisoner access to social media.
With the bankrupt exchange’s estate battling Genesis Digital over $1.1 billion and a $1.6 billion payout to creditors looming, the timing of SBF’s digital reappearance couldn’t be stranger.
On his social media account, Bankman-Fried posted "gm", short for good morning. The two-letter greeting triggered widespread speculation, with many wondering how Bankman-Fried, who was currently serving his 25-year prison sentence have the means to send out the tweet, where internet use is strictly prohibited?
The account quickly clarified that a friend was posting on SBF’s behalf, not the convicted exchange founder himself.
Federal inmates only have access to TRULINCS, a monitored text-only messaging system for approved contacts. Direct use of social media or possession of phones remains strictly forbidden and can result in severe disciplinary action.
FTT Token Surges As FTX Estate Targets $2.7 Billion in Lawsuits, Payouts
The surprise “gm” was more than viral fodder. FTT, the native token of the failed FTX exchange, shot up to $1.10 with daily trading volume swelling from $10.4M to nearly $59M—despite the token’s utility vanishing after FTX’s November 2022 bankruptcy.
Once used to cut fees and serve as collateral on FTX, the token has lost its core utility after the exchange's November 2022 bankruptcy. However, it continues to attracts speculation as the FTX estate attempts to claw back $1.1 billion from Genesis Digital Assets—alleging preferential payments before FTX’s collapse.
Creditors are set to receive a $1.6 billion payout on September 30, the third major distribution in a bankruptcy saga still full of twists and turns.
The Prison Life of Crypto’s Fallen Tycoon
SBF was transferred in April to FCI Terminal Island, Los Angeles, after more than a year at Brooklyn’s Metropolitan Detention Center and a brief Oklahoma detour.
His most recent social media activity included musings on layoffs, government bureaucracy, and thanks to Tucker Carlson for a prison interview. Any hint of unsanctioned digital devices, however, is grounds for solitary and lost “good conduct time.”
It’s not uncommon for defense teams or friends to relay statements from inmates to the outside world, sometimes fueling markets or influencing public sentiment.
In SBF’s case, his digital presence—even by proxy—continues to haunt both FTX’s bankruptcy and the fate of its onetime gamblers.
SBF’s Social Media Sideshow Proves Crypto’s Soap Opera Is Far From Over
Bankman-Fried’s “gm” tweet is more than a quirky headline—it’s a symptom of an industry that still treats its biggest scandals like viral marketing opportunities.
When a convicted felon’s proxy tweet boosts a worthless token, it says less about the tech and more about the trance that still grips crypto traders, who confuse courtroom drama for real innovation.
The era when tweets moved billions is over—the only ones still dancing to SBF’s tune are speculators who thrive on chaos.
If crypto’s future is truly decentralized and just, it must outgrow the cult of the fallen founder. Otherwise, the wildest thing about blockchain will remain its ability to turn prison gossip into market gold.
Bernice
