Sam Bankman-Fried, the former CEO of FTX who now faces a 25-year prison sentence for fraud charges, has made his first public post on social media since January 2023. This comes after he shed light on layoffs at FTX and the associated challenges faced by employees in navigating the company’s recent restructuring. 10 tweets were shared discussing the job cuts and outlining potential reasons behind them.
Following these posts, FTT, the native token of the collapsed crypto exchange FTX, experienced a notable price surge exceeding 29%. A source revealed that SBF does not directly access platforms like X or email but can utilize a system provided for prison communication called Corrlinks to send messages. However, it’s unclear if his tweets were truly authored by him. Notably, scammers have taken advantage of the situation and a fake SBF account emerged, claiming he was pardoned by President Trump and joining Dogecoin.
This fraudulent claim triggered an immediate reaction from the crypto community. The fake account, later verified as potentially linked to government or multilateral institutions, then announced a fake memecoin mining contract address. This instance highlights the potential for malicious actors to capitalize on such instances.
Bankman-Fried is currently serving a 25-year prison sentence for charges related to fraudulent activities at FTX and his legal team is working to appeal his conviction.
This text is not intended as investment advice, and readers are encouraged to conduct their own due diligence before making financial decisions. Continue reading to learn more about the incident.