😱🚨Appeared while Bitcoin was falling: First post after 2 years from FTX founder
Former #FTX CEO #SambankmanFried -Fried, who made his first social media post since January 2023, criticized the mass layoffs in a post he made in the US. Following the post, the exchange's token FTT gained 29 percent in value.
Sam Bankman-Fried, the co-founder and former CEO of the collapsed cryptocurrency exchange FTX, made his first post on the social media platform X since January 2023. Following Bankman-Fried's post about the mass layoffs he made in the US, the exchange's token FTT's price briefly gained nearly 30 percent in value.
Following Bankman-Fried's post on Monday, the FTT token's value increased by 29 percent from $1.60 to $2.07. Following the sales that followed the rise, the price of the token line quickly fell to 1.77 days.
In her post, Bankman-Fried also touched on the mass layoffs made by US President Donald Trump and Department of Government Efficiency (DOGE) Chairman Elon Musk, emphasizing that the reduction management did not care about the growth of its employees but did not care about the competence of these employees and said, "It is not the fault of the employees that they cannot do their jobs properly due to internal policies. However, keeping them on the staff in a job offer that they will do does not benefit humanity either." He said.
Bankman-Fried, who was tried for spending billions of investor funds after FTX's assets, was sentenced to 25 years in prison in the case referred to as "one of the largest known financial frauds in the United States." Bankman-Fried, 32, expects Trump, who recently pardoned Silk Road founder Ross Ulbricht, to make a move for him as well.
Bankman-Fried, who did not object to the case against him, argues that the trial is due to the Biden administration's "use of increased prosecutorial power." In an interview with the New York Sun, Bankman-Fried, who stated that the previous administration's dream had come true, was identified as one of the biggest donors to Biden in the 2020 elections.
