- A single “gm” post on X from an account linked to SBF drove a 60% FTT price surge, highlighting the market’s volatility.
- FTX’s $1.6 billion creditor payout looms, potentially impacting FTT’s value as liquidation risks grow.
- Despite no utility, FTT’s rally reflects lingering investor fascination with FTX’s legacy.
FTX Token (FTT), the native token of the now-defunct FTX exchange, experienced a dramatic 60% price increase within hours early Wednesday.
The token surged after Sam Bankman-Fried’s (SBF) X account put a post.
SBF is the former CEO of FTX currently in jail.
The surge to an intraday peak of $1.21 also came as FTX Recovery Trust sued Genesis Digital for $1.15 billion.
FTX token soars amid SBF tweet
FTT price hovered over $1 on Monday and Tuesday, mirroring crypto turbulence this week.
However, it exploded well above the psychological level on Wednesday.
The catalyst for the sharp price movement appears to be a two-letter post “gm,” shorthand for “good morning”, that Sam Bankman-Fried posted on September 24, 2025.
SBF, jailed for his role in the collapse of FTX, looks to be a massive shadow looming large across the market as his post quickly garnered nearly 4 million views.
The FTT price jumped as a frenzied speculative trend picked up momentum.
Some market participants interpreted it as a signal of potential developments in FTX’s bankruptcy process, while others viewed it as a nostalgic nod to SBF’s influence in the crypto space.
A 60% spike to $1.21 separated FTT from the overall picture of a broader market downturn.
Prices pared gains after the X account posted again a few hours later.
[No, SBF is not posting himself from prison. I’m a friend posting on his behalf.]
— SBF (@SBF_FTX) September 24, 2025
Despite this, FTT p