A brief “gm” (“good morning”) post from Sam Bankman-Fried’s X account sparked a sharp rally in FTX’s native token FTT, which jumped over 18% in 24 hours despite the former crypto mogul serving a 25-year prison sentence.
The message, posted on Sept. 23, surprised the crypto community, as inmates are typically barred from social media. A follow-up clarified the situation, stating: “No, SBF is not posting himself from prison. I’m a friend posting on his behalf.”
The renewed online presence comes amid ongoing legal battles for Bankman-Fried, who was convicted in November 2023 on seven counts of fraud and conspiracy linked to the collapse of FTX in 2022. His attorney, Alexandra Shapiro, known for representing high-profile clients including Sean “Diddy” Combs, is now leading his appeal.
Bankman-Fried has also been ordered to pay $11 billion in restitution for defrauding investors. Oral arguments in his appeal are set for Nov. 4 at the U.S. Court of Appeals for the Second Circuit, though experts note his chances of overturning the conviction remain slim given historically low federal acquittal rates.
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