Sam Bankman-Fried, the disgraced founder of FTX, made his first post on X in two years, causing a brief 30% spike in the price of FTT, the exchange’s native token.
In his February 25 post, Bankman-Fried humorously mentioned that he hadn’t checked his email in hundreds of days, likening his neglect to government employees facing potential layoffs. His remarks seemed to be a subtle nod to an ongoing campaign by the U.S. Department of Government Efficiency, which is requiring federal employees to justify their positions.
“Firing people is one of the hardest things to do in the world. It sucks for everyone involved,” he wrote, reflecting on how layoffs are often a result of managerial failures rather than the employees themselves.
While the post had no direct connection to FTX or its bankruptcy proceedings, it nonetheless had an immediate impact on FTT’s price. The token surged from $1.63 to $2.03 within minutes following the post, according to data from CoinGecko.
However, the rally was short-lived. Within half an hour, FTT retreated to $1.72, continuing its long-term decline. The token remains down over 97% from its all-time high of $85.02, recorded in September 2021, before the collapse of FTX.
This marks Bankman-Fried’s first public statement since January 2023, when he shared details about his drafted congressional testimony. His legal troubles are ongoing, with the FTX bankruptcy case still in progress and creditors awaiting repayment.
Meanwhile, speculation continues regarding a potential presidential pardon for Bankman-Fried. On January 30, Bloomberg reported that his parents—Stanford Law professors Joseph Bankman and Barbara Fried—had met with lawyers and individuals connected to Donald Trump’s administration to explore the possibility of clemency.
Bankman-Fried was sentenced to 25 years in prison in March 2024 after being convicted on multiple counts of fraud and conspiracy. While he continues to challenge his conviction in court, he is currently serving his sentence at the Brooklyn Metropolitan Detention Center.
