Sam Benkman-Freed, the former CEO of the FTX exchange, broke his two-year silence by posting on the X social network. In his post, he mentioned neglecting his emails for a few hundred days and how idleness hasn’t been as soothing as expected. Following this post, the price of the native token of FTX exchange, FTT, surged by 40% briefly from $1.5 to over $2.1 but couldn’t sustain, currently at $1.70. The token remains more than 97% down from its historical high of $85.02 registered on September 10, 2021, before the FTX exchange collapse. Benkman-Freed hinted at employee layoffs and management issues in his post, emphasizing the challenges of firing people and the company’s failure to provide suitable jobs for employees. He seemed to reference the recent Department of Government Efficiency (D.O.G.E) campaign where Elon Musk asked government employees to report on their past week’s work or risk losing their jobs. Benkman-Freed’s last X post dated back to January 19, 2023, when he discussed his statements in Congress, and FTT price was around $2.50. Benkman-Freed’s trial concluded in November 2023, where he was found guilty on seven charges, including financial fraud and securities fraud, and sentenced to 25 years in prison on March 28, 2024. He is currently serving his sentence at the Metropolitan Detention Center in Brooklyn. Visit the digital currencies’ live price page to monitor token and cryptocurrency prices in real-time.
