FTX Founder Tweets, Altcoin Price Rises 60 Percent

FTX founder Sam Bankman-Fried's post on his X (former Twitter) account caused a significant jump in the price of FTX Token (FTT). A single "gm" (good morning) tweet sent the FTT price up by as much as 60%. Currently, the price is trading 20% above its previous levels, with short-term pullbacks. This development, which marked FTX's history, has managed to regain investors' attention.

Sam Bankman-Fried, who is serving a 25-year prison sentence in California, made social media headlines again with a tweet on September 23. The post came with a note that SBF's account was "managed by a friend," but this had a major impact on the markets. Following the tweet, the price of FTT rose sharply, sparking a flurry of activity among investors.

There were differing interpretations on social media, with some analysts suggesting that the post may have been a "marketing move". FTX's problems and bankruptcy process also continue. As of September 30, it was announced that a total of $1.6 billion would be paid to creditors. These payments, which will be transferred through Gemini, Kraken and Payoneer platforms, are expected to be in accounts within 3 business days. The repayment rate for US users has reached 95% and 78% for international users.

The FTX bankruptcy process, which has so far repaid over 6 billion dollars, shows the interest of investors in the system. These fluctuations in the FTT price prove that investors' confidence in the FTX platform still remains, despite the passage of years. In addition to these developments, it is important for investors to monitor critical support and resistance levels for FTX Token (FTT).