- A single “gm” post on X from an account linked to Sam Bankman‑Fried triggered a 60% surge in the price of FTT, highlighting the market’s volatility.
- A $1.6 billion creditor distribution from the FTX estate is approaching, which could pressure FTT’s value as liquidation risk rises.
- Despite its lack of utility, FTT’s rally reflects ongoing investor fascination with the legacy of FTX.
FTX Token (FTT), the native token of the now-defunct FTX exchange, saw a dramatic price surge of roughly 60% within hours on Wednesday morning.
The token jumped after an X account associated with Sam Bankman‑Fried (SBF) posted a brief message.
SBF is the former CEO of FTX and is currently serving a prison sentence.
The intraday peak at about $1.21 came after the FTX Recovery Trust filed a $1.15 billion lawsuit against Genesis Digital, adding to market attention.
FTX token rockets higher after SBF tweet
FTT was trading near $1.00 on Monday and Tuesday, mirroring broader choppiness across crypto markets earlier in the week.
On Wednesday, the price exploded well above that psychological level.
The immediate catalyst appeared to be a two-letter post reading “gm” — shorthand for “good morning” — published by Sam Bankman‑Fried on September 24, 2025.
Even imprisoned, SBF continues to cast a long shadow over the crypto space: the post quickly racked up nearly 4 million views.
As a speculative frenzy took hold, FTT’s price spiked sharply.
Some market participants read the activity as a sign of potential developments in the FTX bankruptcy process, while others treated it as a nostalgic nod to SBF’s prior influence in crypto.
The 60% jump to $1.21 separated FTT’s performance from a broader market slowdown.
Prices later retreated after the X account posted again a few hours afterward.
[No, SBF is not posting himself from prison. I'm a friend posting on his behalf.]
— SBF (@SBF_FTX) September 24, 2025
Even so, FTT remained near $1.00 and, at the time of writing, had gained about 19% over the previous 24 hours.
It’s worth noting the price move also occurred following the FTX Recovery Trust’s suit against Bitcoin miner Genesis Digital, related to a $1.15 billion investment made during SBF’s tenure.
In a filing Monday in the U.S. Bankruptcy Court for the District of Delaware, the FTX Recovery Trust sued Genesis Digital Assets (GDA), affiliated entities and two co‑founders.
The action is part of efforts to recover $1.15 billion in what the trust describes as “commingled and misappropriated funds.”
The filing alleges those funds are directly tied to “frauds on customers and other creditors” by Sam Bankman‑Fried in 2021 and 2022.
What are FTT’s price prospects?
At the time of publication, FTT traded around $0.9704, with a 24‑hour trading volume near $17.64 million.
The token’s market capitalization stood at approximately $272.9 million, reflecting about 328.89 million FTT in circulation.
Longer‑term prospects for the token remain uncertain: FTT no longer serves a functional role within a living exchange and could face liquidation to satisfy creditor claims in the ongoing FTX bankruptcy, which aims to distribute about $1.6 billion.
Given the broader volatility of altcoins, FTT could retest $1.21 and even target $2.00 if speculative momentum returns.
However, those near‑term moves sit in stark contrast to the token’s all‑time high of $85.02.
FTT has lost roughly 98.8% of its peak value, and bearish expectations are reinforced by the token’s turbulent history and the unresolved legal and restructuring actions surrounding FTX.