The former FTX chief posted a brief “GM” from jail.
Minutes later, FTX whipsawed: it opened near $1.136, ran to $1.226, then faded to close around $0.984, down about 13% on the day. Volatility rose as traders faded the initial pop and pushed price back into the recent range.
Price action shows FTX still holding above its 50-day exponential moving average near $0.881. However, sellers capped the move below the $1.10–$1.23 intraday band marked by today’s wick cluster. On the downside, immediate support sits near the 50-day EMA, with a secondary shelf around $0.80 from early September closes. The chart’s venue did not provide volume, so intraday flow cannot be confirmed from this view.
Context remains headline-driven. The post revived attention on the bankrupt exchange’s legacy token; yet the fade into the close signals profit taking and uncertainty rather than trend confirmation. Until FTX reclaims and holds above today’s high, the market treats the message as a short-lived catalyst while it watches the $0.88 area for support.
SBF account clarifies friend posted gm creditors next in line
Sam Bankman Fried’s X account poste drew swift, sharp replies across crypto circles. Soon after, the same account clarified the authorship:
“No, SBF is not posting himself from prison. I’m a friend posting on his behalf.”
The clarification did not slow commentary. Peter McCormack responded with a terse
“What.” Wendy O asked, “Maybe the rapture is real?”
Meanwhile, @CryptoVonDoom wrote,
“GO BACK TO YOUR CELL,”
and analyst Conor Grogan argued,
“Here comes the PR campaign to get Sam pardoned!”
Dan Held added,
“Oh Jesus Christ.”
The profile itself notes a monitored mailing address at FCI Terminal Island and states the account is “shared by a friend,” matching the follow-up post.
At the same time, the FTX bankruptcy moved forward with another creditor distribution. According to the FTX Recovery Trust, repayments totaling $1.6 billion will begin on September 30 and will route through BitGo, Kraken, and Payoneer. Deposits should reach verified accounts within three business days. As a result, U.S. customers will reach an estimated 95% cumulative recovery after receiving 40% in this round. International “dotcom” users will add 6% to reach about 78% recovered. Unsecured and loan claims will receive 24%, lifting recoveries to roughly 85%. Convenience claims are scheduled to be paid at 120% of face value. In aggregate, the estate has returned more than $6 billion so far, while additional assets remain in recovery proceedings.
Why Sam Bankman Fried is in prison
Sam Bankman Fried is serving a 25 year federal sentence after a 2023 jury convicted him of fraud and conspiracy tied to FTX and Alameda Research. In March 2024, Judge Lewis Kaplan imposed the term, citing the scale of losses and the deliberate misuse of customer assets.
Prosecutors said he directed FTX to route billions in customer deposits to Alameda. They argued he used those funds to cover trading losses, make venture investments, buy real estate, and finance political donations. Trial evidence described deficient risk controls, secret exemptions for Alameda on the FTX platform, and misleading communications to customers and lenders.
The case moved quickly after FTX collapsed in November 2022. Authorities arrested him in the Bahamas in December 2022 and extradited him to the United States. A federal grand jury later returned seven felony counts, including wire fraud and money laundering conspiracies. The jury found him guilty on all counts in November 2023.
After sentencing, the court ordered forfeiture and restitution procedures and entered a judgment that allows for appeal. He remains in federal custody while related civil and bankruptcy proceedings continue to sort creditor recoveries.
