Sam Bankman-Fried’s X Account Awakens, Sends FTT Token Soaring

On Tuesday evening, Sam Bankman-Fried’s verified X account stands for the two-letter greeting “GM” and “Good morning.”

The greeting became a familiar catchphrase in the crypto community, but the SBF message quickly caught the attention as it is not assumed that inmates in federal prisons in the United States have direct access to social media.

The account was later revealed in response that SBF himself had not posted it, and that after the story was published, a friend had done so on his behalf.

FTT, the native token of bankrupt FTX Exchange, is currently trading for around $1.10 at the time of writing, an increase of about 32% over the past 24 hours. According to the report, daily trading volumes have skyrocketed from around $6.4 million to about $59 million, almost six times. data At Coingecko.

The token will be used to reduce fees and act as collateral for FTX after the exchange’s November 2022 bankruptcy. It continues to attract the profits of speculative transactions during the real estate liquidation process.

SBF is former CEO of Shottered FTX Exchange and has served the federal government for 25 years Text On the finances of a conspiracy to siphon billions of dollars in client funds from exchanges and misleading investors after being convicted of seven counts of fraud.

He last tweeted a few months ago A series of posts Looking back at layoffs, workplace challenges, and even government bureaucracy, he writes about the difficulties of firing employees, expresses his sympathy for those facing unemployment and jokes about not checking emails for days.

A week later, he thanked former Fox News host Tucker Carlson for an interview with the prison.

Earlier on Tuesday, the FTX Recovery Trust He filed a lawsuit It is trying to regain $1.1 billion against Bitcoin mining company Genesis Digital Assets. The lawsuit alleges that the company received priority payments in the months leading up to the collapse of the exchange.

The move comes days before the property begins distribution of its third major creditor on September 30th, releasing approximately $1.6 billion to verified claimants.

Tweets from the prison

That’s what SBF was like transfer 18 months later at the Metropolitan Detention Center in Brooklyn, New York, he went to Terminal Island, a federal correctional facility in Los Angeles in April.

Under the Prison Bureau ruleFederal inmates may use Trulincs, a secure messaging system that allows for text communication (without attachments) with approved contacts. The system is monitored and screened and does not allow broader internet access.

Possession or use of smuggling mobile phones is strictly prohibited and if found, it could lead to disciplinary action, such as solitary confinement or docking “good time of action.”

Lawyers for some inmates attempt to post statements. Inmates send texts or letters to someone outside and post them on their social media handles.

Decryption I contacted the attorney of Sam Bankman-Fried of Shapiro Arato Bach LLP and officials at FCI Terminal Island to comment on the “GM” post, but they did not receive a response immediately.

Editor’s Note: Additional details about those tweeted from the official SBF account were later added to this story.