FTX Token Skyrockets Following Sam Bankman-Fried’s Return to X

FTX Token (FTT) experienced a sharp surge of over 30% in a matter of minutes after Sam Bankman-Fried, the disgraced former CEO of FTX, posted on social media platform X for the first time in two years. Bankman-Fried’s post, which referenced Elon Musk’s Department of Government Efficiency initiative and addressed firing employees, triggered an immediate reaction from traders. The FTT token saw a rapid rise from $1.63 to over $2 before retracting to $1.75 within 30 minutes, according to CoinMarketCap.