- A single “gm” post on X from an account linked to Sam Bankman‑Fried triggered a 60% surge in FTT’s price, highlighting market volatility.
- A potential $1.6 billion payout to FTX creditors looms, which could pressure FTT’s value as liquidation risks rise.
- Despite having no practical utility, the FTT rally reflects persistent investor fascination with the legacy of FTX.
FTX Token (FTT), the native token of the now-defunct FTX exchange, spiked dramatically early Wednesday, rising roughly 60% within a few hours.
The token jumped sharply after an X account associated with Sam Bankman‑Fried (SBF) published a brief post.
SBF is the former CEO of FTX and is currently incarcerated.
The intraday peak of $1.21 followed news that the FTX Recovery Trust filed a $1.15 billion lawsuit against Genesis Digital, adding to the market’s uncertain backdrop.
FTX token surges after SBF-related X post
FTT had traded above $1 on Monday and Tuesday amid ongoing crypto market turbulence, but it exploded well past that psychological level on Wednesday.
The immediate catalyst appears to have been a two-letter “gm” post—short for “good morning”—published on X on September 24, 2025, from an account tied to Sam Bankman‑Fried.
Although SBF is imprisoned for his role in FTX’s collapse, his presence still casts a large shadow over the market: the post quickly accumulated nearly 4 million views and sparked frenzied speculative buying.
Some market participants interpreted the surge as a signal of possible developments in the FTX bankruptcy proceedings, while others saw it as a nostalgic nod to SBF’s former influence in crypto.
The 60% rally to $1.21 separated FTT from the broader market’s downward pressure for a time, before prices retraced after the account was republished 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 the pullback, FTT remained close to $1 and was up about 19% over the prior 24 hours at the time of writing.
The price jump coincided with legal action taken by the FTX Recovery Trust, which on Monday filed suit in the U.S. Bankruptcy Court for the District of Delaware seeking to recover $1.15 billion related to investments made by SBF into Genesis Digital Assets (GDA) and affiliated entities.
The complaint alleges those funds are tied to alleged misappropriation and customer-related fraud by the former FTX chief in 2021 and 2022, and the suit names GDA, affiliated companies, and two co‑founders as defendants.
FTT price outlook
At the time of reporting, FTT was trading around $0.97 with a 24‑hour trading volume near $17.6 million.
Market capitalization stood at about $272.9 million, reflecting a circulating supply of roughly 328.89 million FTT.
Long‑term prospects for the token remain uncertain. FTT no longer serves an operational function on the defunct exchange and faces the risk of being liquidated to satisfy creditor claims in the ongoing FTX bankruptcy, which could lead to a distribution of approximately $1.6 billion.
In the short term, FTT could retest and potentially exceed the $1.21 level and even aim toward $2 amid the generally volatile altcoin market, though such moves would be speculative and risk‑driven.
The token’s all‑time high of $85.02 sharply contrasts with current prices: FTT has fallen roughly 98.8% from its peak, and its bearish outlook remains linked to the exchange’s turbulent history and outstanding legal and bankruptcy proceedings.