- A single “gm” post on X from an account linked to SBF triggered a 60% surge in FTT’s price, highlighting the market’s volatility.
- A $1.6 billion payout to FTX creditors is looming, which could affect FTT’s value as liquidation risks rise.
- Although the token lacks practical utility, the FTT rally reflects investors’ ongoing fascination with FTX’s legacy.
FTX Token (FTT), the native token of the defunct FTX exchange, surged about 60% in a matter of hours on Wednesday morning.
The token jumped after a message was posted from Sam Bankman‑Fried’s X account.
Bankman‑Fried, the former CEO of FTX, is currently incarcerated.
The intraday peak of $1.21 also coincided with the FTX Recovery Trust suing Genesis Digital for $1.15 billion.
FTX token spikes after SBF-linked post
FTT traded around $1 on Monday and Tuesday, reflecting this week’s broader crypto turbulence.
But on Wednesday it shot significantly above that psychological level.
The most likely catalyst for the dramatic price move was a two‑letter post—“gm,” short for “good morning”—published from Sam Bankman‑Fried’s account on September 24, 2025.
Even from prison, SBF remains a large shadow over the market: the post quickly amassed nearly 4 million views.
As speculative momentum built, FTT’s price spiked amid a wave of trading activity.
Some market participants read the message as a hint of potential developments in FTX’s bankruptcy process, while others saw it as a nostalgic nod to SBF’s former influence in the crypto space.
The 60% surge to $1.21 separated FTT’s performance from the broader market slowdown.
Prices later pared gains after the X account posted again several 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 near $1 and was up about 19% over the previous 24 hours at the time of reporting.
The price spike also came as FTX Recovery Trust filed a lawsuit against Bitcoin‑mining firm Genesis Digital related to a $1.15 billion asset transfer linked to Bankman‑Fried.
In a complaint filed 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 seeks to recover $1.15 billion that the trust describes as “commingled and diverted funds.”
The filing alleges those funds were directly connected to the “fraud on customers and other creditors” by the former FTX chief in 2021 and 2022.
What are FTT’s price prospects?
FTT’s price was $0.9704 at the time of writing, with a 24‑hour trading volume of roughly $17.64 million.
The token’s market capitalization stood at $272.9 million, based on approximately 328.89 million FTT in circulation.
The token’s long‑term viability remains uncertain. FTT no longer serves a functional role within a live exchange and could be liquidated to satisfy creditor claims in FTX’s ongoing bankruptcy process, which anticipates distributing about $1.6 billion.
In a volatile altcoin environment, FTT could revisit the $1.21 level and potentially target $2, but such moves would likely be short‑lived and driven by speculation.
That said, FTT’s all‑time high of $85.02 is a stark contrast to current levels.
Since its peak, FTT has fallen about 98.8%, and bearish sentiment is anchored in its troubled history.