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Sam Bankman-Fried’s X Account Reactivated While Serving 25-Year Sentence
Sam Bankman-Fried – On Tuesday evening, the verified X account of Sam Bankman-Fried (SBF) surprised the crypto community with a simple two-letter greeting: “gm,” shorthand for “good morning.” While the phrase is common in crypto culture, the post sparked immediate attention since U.S. federal inmates are barred from direct access to social media.
Shortly after, the account clarified that a friend was posting on SBF’s behalf, not the disgraced FTX founder himself.
FTT Token Sees Sharp Rally
The timing of the post coincided with a notable market move for FTT, the native token of the now-bankrupt FTX exchange. At the time of writing, FTT is trading near $1.10, up roughly 32% in the past 24 hours, according to CoinGecko. Daily trading volume surged almost sixfold, jumping from $10.4 million to nearly $59 million.
FTT once offered users discounted fees and collateral utility on FTX, but it lost its main purpose after the exchange’s November 2022 bankruptcy. Despite this, it continues to attract speculative trading interest during the ongoing estate liquidation process.
SBF Behind Bars
Bankman-Fried, the former CEO of FTX, is currently serving a 25-year federal sentence after being convicted on seven counts of fraud and conspiracy tied to billions in stolen customer funds and misleading investors. He was transferred in April to the Federal Correctional Institution Terminal Island in Los Angeles, after 18 months in Brooklyn’s Metropolitan Detention Center.
Under Bureau of Prisons’ rules, inmates may only use TRULINCS, a monitored text-only system with no internet access. Possession of a contraband cellphone could result in severe penalties, including solitary confinement. Attorneys and friends sometimes act as intermediaries, posting statements on behalf of inmates.
New Legal Battles Ahead
Earlier Tuesday, the FTX Recovery Trust filed a lawsuit against Genesis Digital Assets, seeking to claw back $1.1 billion in alleged preferential payments made before FTX’s collapse. The legal action comes just days before the estate’s third major creditor distribution on September 30, which will release about $1.6 billion to verified claimants.
Decrypt reported reaching out to SBF’s legal team and prison officials for comment on the “gm” post but did not receive an immediate response.
