Sudden FTT Token Rally: What’s Driving It?

The FTT token price is currently experiencing a major rally after a mysterious "gm" post on Sam Bankman-Fried's social media account. While this sudden surge sparked speculation about the crypto’s future trend, many wonder if the SBF account has been hacked. Despite the subsequent clarification that a friend had made the post, the crypto market remains ambiguous about the development.

What’s Behind the Sudden FTT Token Rally?

Earlier today, the X account of SBF, who is currently at the brutal Victorville Prison in California, became active with a mysterious ‘gm’ message. The post, SBF's first notable activity in months, triggered intense speculation about a possible hack.

However, this incident ignited a major FTT token rally, with the price surging by more than 25% in a day. Hitting a five-month high of $1.01, the cryptocurrency has seen notable upticks of 26% and 16% over the past week and month, respectively.  Over the past few months, the altcoin has been caught within a consolidation period, and traded in a low range below $1.3. Though the current FTT token rally hasn’t propelled the price above $1.3, it has brought it above $1.2, signalling a major bull run ahead.

Has SBF X Account Been Hacked?

SBF’s cryptic “gm” post raised eyebrows because his access to social media is restricted due to his incarceration in a U.S. federal prison. Sam Bankman-Fried , the founder and former CEO of the now-defunct crypto exchange, FTX , is currently serving a 25-year prison sentence for orchestrating /multiple fraudulent schemes. He was convicted on seven counts of fraud and conspiracy, including wire fraud, securities fraud, and money laundering.

While the sudden pop-up sparked speculation about a potential X account hack, another subsequent message further fueled the debate. The second message that came hours after the first note read, “[No, SBF is not posting himself from prison. I'm a friend posting on his behalf.]”

The community reacted with a mix of humor and skepticism, questioning the token's value and poking fun at 'pumping from prison' while highlighting FTT's lack of utility post-FTX collapse. While some question the authenticity of the post, others claim the FTX founder himself is using his page from prison.