Sam Bankman-Fried’s X Account Awakens, Sends FTT Token Hovering – Decrypt

On Tuesday night, Sam Bankman-Fried’s verified X account posted a two-letter greeting, “gm,” quick for “good morning.”

Whereas the greeting has develop into a well-known catchphrase within the crypto group, SBF’s message drew instant consideration as a result of inmates in U.S. federal prisons aren’t speculated to have direct entry to social media, elevating questions on whether or not the submit was made by him or by somebody posting on his behalf.

FTT, the native token of the now-bankrupt FTX trade, is buying and selling at round $1.10 on the time of writing, up roughly 32% over the previous 24 hours. Each day buying and selling quantity has surged nearly sixfold, from roughly $10.4 million to almost $59 million, in response to information on CoinGecko.

As soon as used to chop charges and function collateral on FTX, the token misplaced its core utility after the trade’s November 2022 chapter. It continues to attract speculative buying and selling curiosity throughout the property’s liquidation course of.

SBF, founder and former CEO of the shuttered FTX trade, is serving a 25-year federal sentence after being convicted on seven counts of fraud and conspiracy for siphoning off billions in buyer funds from the trade and deceptive buyers about its funds.

He final tweeted at size months earlier in a collection of posts reflecting on layoffs, office challenges, and even authorities forms, writing in regards to the problem of firing staff, expressing sympathy for these going through unemployment, and joking about not checking emails for days.

Per week later, he thanked former Fox Information host Tucker Carlson for a jail interview.

Earlier on Tuesday, the FTX Restoration Belief filed a lawsuit towards Bitcoin mining agency Genesis Digital Property, looking for to claw again $1.1 billion. The lawsuit alleges that the corporate obtained preferential funds within the months main as much as the trade’s collapse.

The transfer comes simply days earlier than the property is about to start its third main creditor distribution on September 30, which can launch about $1.6 billion to verified claimants.

Tweets from jail

SBF was transferred to the Federal Correctional Establishment Terminal Island in Los Angeles in April, after 18 months on the Metropolitan Detention Heart in Brooklyn, New York.

Beneath the Bureau of Prisons’ guidelines, federal inmates might use TRULINCS, a safe messaging system that enables textual content‐solely communication (no attachments) with accredited contacts. The system is monitored and screened, and doesn’t grant entry to the broader web.

Possession or use of a contraband cellphone is strictly prohibited, and if found, it will possibly result in disciplinary motion, together with solitary confinement or docking of “good conduct time.”

Some inmates’ attorneys try and submit statements: the inmate sends a textual content or letter to somebody exterior, who then posts it to their social media handles.

Decrypt reached out to Sam Bankman-Fried’s protection counsel at Shapiro Arato Bach LLP, in addition to officers on the Federal Bureau of Prisons and FCI Terminal Island, for touch upon the “gm” submit however didn’t instantly obtain a response.