FTT Token (FTT) went up by 30% on February 25, 2025, following the return of its former CEO, Sam Bankman-Fried (SBF), to social media, after two years of his absence.
Former FTX CEO Sam Bankman-Fried (SBF) returned to social media on February 24, 2025, after two years of absence. The post, which is not directly related to FTX or the crypto industry, saw the FTX token (FTT) rise by 30%.
The post, which is largely about the difficulties employers face in firing employees and how it affected him personally, sparked a wave of interest among his followers. It is worth noting that the post does not specifically mention FTX or the crypto sector. However, due to his popularity, the post's content had a broader impact, leading to an increase in FTT's price following its successful launch.
According to CoinMarketCap, the token surged from $1.63 to over $2 in a short span of time, marking a 30% increase in its value. However, this rally was short-lived, with FTT prices falling back to around $1.75 within 30 minutes, indicating slight volatility in the token. At press time, FTX token was trading at $1.69, showing a 1.69% decrease over the past day.
FTT has seen significant rise in recent years, though in the larger context it has been observed to be generally decreasing over the years. The token is, however, down by over 97% from its record high of $85.02 recorded in September 2021.
This sharp sell-off occurred when the FTX exchange crashed in November 2022, following the revelation of the fraud by those in charge of the company. FTT has traded lower ever since, highlighting the potential impact the scandal continues to have on the crypto markets.
The last activity registered on the social media platform belonged to Bankman-Fried in January of 2023, when he posted details about his upcoming congressional hearing. Since then, he has rarely made an appearance, and his legal battles are what have defined him more lately.
In November 2023, Bankman-Fried was found guilty of seven charges of fraud, wire fraud, securities fraud, and commodities fraud. The was convicted in March 2024, to 25 years of imprisonment, and is presently incarcerated at the Brooklyn Metropolitan Detention Center.
However, in January of 2025, records emerged that his parents, Joseph Bankman and Barbara Fried, have sought the presidential pardon. According to the source, the two allegedly speak with their lawyers and individuals linked to Trump’s team.
