What You Need to Know:
- Sam Bankman-Fried’s X account posted for the first time in two years.
- FTX Token (FTT), associated with the exchange he founded, saw a brief surge.
The token linked to the now-defunct FTX exchange experienced an uptick late Monday night after the platform’s founder, Sam Bankman-Fried, tweeted for the first time in two years. Bankman-Fried, currently serving a 25-year sentence, shared a series of tweets addressing layoffs, drawing attention to the complex nature of employee management.
“I have a lot of sympathy for [government] employees: I, too, have not checked my email for the past few (hundred) days,” Bankman-Fried’s thread began. Following his tweets, FTT rose from approximately $1.55 to $2.07 before settling around $1.78, according to CoinGecko.
“Firing people is one of the hardest things to do in the world. It sucks for everyone involved.” — Sam Bankman-Fried
Translation: Firing employees is incredibly challenging and affects everyone involved negatively.
Bankman-Fried, who was convicted of multiple fraud counts in November 2023, is held at the Metropolitan Detention Center in Brooklyn as his legal team navigates an appeal. His account on X also mentioned the topic of layoffs and the reasons behind employee terminations.
“It isn’t the employee’s fault… when that happens. It isn’t their fault if their employer doesn’t really know what to do with them.” — Sam Bankman-Fried
Translation: Employees often aren’t at fault when laid off; it’s usually due to poor management or unclear expectations from the employer.
Furthermore, recent social media activity linked to Bankman-Fried has stirred conversations about possible misrepresentation and the authenticity of his posts, especially in light of claims of receiving a presidential pardon, which remain unverified.
