- Sam Bankman-Fried’s “gm” post triggered a 24% surge in FTT despite his imprisonment.
- Crypto Twitter reacted with anger, jokes, and disbelief, underscoring deep mistrust of SBF.
- The FTX Recovery Trust will repay $1.6B to creditors this month, the third major round.
Sam Bankman-Fried’s name refuses to leave the headlines, and this week it collided with FTT’s price once again. Despite serving time, a casual “gm” post from his X account sent the token surging nearly 25% in a matter of hours. The timing was uncanny, arriving just as the FTX Recovery Trust confirmed its third major payout to creditors. The result: a strange mix of speculation, outrage, and humor across crypto Twitter.
The Post That Moved Markets
On Tuesday, SBF’s account pushed out a single message: “gm.” That was enough for speculative traders to pile into FTT, pushing it from $0.80 to a peak of $1.23 before cooling to around $1.01. The post was later clarified as coming from a “friend” managing his account, but the market didn’t seem to care. Activity spiked hard, with active addresses climbing from a monthly average of 56 to over 200, while centralized exchange deposits and withdrawals doubled and quadrupled, respectively.
Community Reactions
Not everyone was amused. On-chain investigator ZachXBT blasted SBF before deleting his remarks, reflecting the bitterness still felt after FTX’s collapse. Others took a lighter approach—Laura Shin brushed it off as “so 2021,” while Arthur Hayes joked, “Wen memecoin?” The irony of traders bidding up a defunct exchange token tied to one of crypto’s biggest scandals wasn’t lost on the crowd.
FTX Repayments in Motion
The flare-up coincides with real progress from the FTX Recovery Trust, which is set to release another $1.6 billion to creditors at the end of September. It marks the third repayment round, with some investors expecting recoveries as high as 95% if paperwork and KYC are completed. For victims of the collapse, the payouts are what matter—not SBF’s unexpected Twitter presence. Still, the episode highlights how fragile market psychology remains when even a single two-letter post can spark a rally.
Final Thoughts
The sudden surge in FTT shows that speculation often thrives on narrative, even when fundamentals are nonexistent. Between looming repayments, ongoing appeals, and lingering community anger, the SBF saga is far from over. And whether the token has any real future or not, the market continues to prove one thing: in crypto, sometimes “gm” is all it takes.
