FTT saw a surge in value following a random post to the X account of disgraced FTX founder Sam Bankman-Fried on September 23.
Sam Bankman-Fried Surprises With X Post
In the Tuesday night X post, the one-time king of crypto posted a simple “gm” (short for good morning) on his social media feed.
According to data from CoinGecko, the native FTX token was up over 18% in the past 24 hours as of Wednesday morning.
The move raised eyebrows from the crypto community at large, given that federal inmates posting on social media is widely prohibited.
However, in a reply to the X post a few hours later, the person behind the message alleged that he was not Bankman-Fried.
“No, SBF is not posting himself from prison,” the X post read. “I’m a friend posting on his behalf.”
SBF Lawyer Tapped in High-Profile Case
News of Bankman-Fried’s social media resurgence came just days after it was revealed that “It Ends With Us” director Justin Baldoni brought on the former crypto kingpin’s lawyer, Alexandra Shapiro, in his high-profile case against his former co-star, Blake Lively.
Shapiro is representing Bankman-Fried as he appeals his November 2023 conviction on seven fraud and conspiracy charges tied to FTX’s stunning collapse in 2022.
The appellate attorney also represented Sean “Diddy” Combs ahead of his July 2025 partial acquittal of racketeering and sex trafficking charges.
Bankman-Fried has been held in federal prison since 2023 and was sentenced to 25 years behind bars. The MIT graduate has also been ordered to pay $11 billion in restitution and fees for defrauding investors in his crypto exchange.
Oral arguments for Bankman-Fried’s appeal are scheduled for November 4 at the U.S. Court of Appeals for the Second Circuit in New York. However, with historically low acquittal rates for federal inmates, he faces an uphill legal battle.
