In a bizarre twist of fate, the crypto world witnessed a wild surge as the beleaguered FTX Token (FTT) spiked a staggering 30% following a seemingly innocuous tweet from Sam Bankman-Fried, who’s currently serving time behind bars. Wouldn’t it be ironic if a tweet about layoffs—of all things—could send a once-prominent crypto token soaring, only to crash back down within half an hour? This surreal scenario not only highlights how social media still wields surprising power over markets but also underscores the turbulent journey of FTT, which has plummeted over 97% from its previous highs. And to add a layer of familial drama, reports indicate that SBF’s parents are navigating the murky waters of presidential pardons for their son. The crypto community is left buzzing—how much influence can a tweet really have? LEARN MORE.
Key Notes
- FTT saw a 30% surge after a tweet from Sam Bankman-Fried, despite no crypto-related content.
- The surge quickly reversed within 30 minutes, dropping back to around $1.74.
- SBF’s parents are reportedly seeking presidential pardon for their son.
FTX Token (FTT) experienced a sudden 30% price surge following an X post from disgraced FTX founder Sam Bankman-Fried who is currently serving a 25-year prison sentence. The tweet itself had no direct connection to cryptocurrencies or FTX but marked SBF’s first public statement in over two years.
On February 25, Bankman-Fried commented on laying off employees, seemingly referencing Elon Musk’s recent government efficiency campaign. “Firing people is one of the hardest things to do in the world,” he wrote, adding that it often reflects failures in management rather than individual shortcomings. He also expressed sympathy for government employees, stating that he hadn’t checked his emails in “a few hundred days either.”
Despite the tweet being unrelated to crypto, FTT saw a rapid price jump from $1.63 to over $2.1, according to CoinMarketCap. However, the token quickly retraced to around $1.74 within half an hour. At the time of writing, the token is trading at around $1.66, down by 6% in the past 24 hours.
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