Sam Bankman-Fried Returns to X After Two Years, FTT Token Spikes 30%
Sam Bankman-Fried, the co-founder of FTX, made his first post on social media platform X (formerly Twitter) since January 2023.
After his post, FTT, the native token of FTX, saw a quick jump of 29%, rising from $1.60 to $2.07 before settling back at $1.77, according to CoinGecko.
Bankman-Fried’s Post on Government Layoffs
At 8:53 p.m. ET on Monday, he shared a 10-post thread discussing recent U.S. government layoffs under President Donald Trump’s administration.
“I feel for government employees—I haven’t checked my email for hundreds of days either,” he joked. “Being unemployed isn’t as relaxing as it seems.”
Trump, along with the Department of Government Efficiency (DOGE), led by Elon Musk, recently laid off around 95,000 government workers, with more cuts expected, according to Reuters.
Bankman-Fried explained that many employees lose their jobs not because of their own mistakes but due to mismanagement in their departments.
“We saw this at FTX too—when a manager got overwhelmed, whole teams lost direction,” he said. “It’s not their fault, but if there’s no work for them, there’s no reason to keep them.”
Seeking a Pardon from Trump
Bankman-Fried is currently serving a 25-year prison sentence for defrauding investors out of billions of dollars in what is considered one of the biggest financial fraud cases in U.S. history.
Now, he is hoping for a pardon from pro-crypto President Trump, who recently pardoned Silk Road creator Ross Ulbricht. He is also appealing his case, arguing it should be declared a mistrial.
In an interview with the New York Sun, he criticized the Biden administration for “prosecutorial overreach” and expressed disappointment in the Democratic Party, despite being one of Biden’s biggest donors in 2020.
However, according to prediction platform Polymarket, there is currently only a 3% chance that Trump will pardon Bankman-Fried within his first 100 days in office.
