FTX Set to Distribute $1.6 Billion to Creditors as FTT Token Surges 25% Following Sam Bankman-Fried's 'gm' Post

FTX is poised to commence its third distribution of approximately $1.6 billion to creditors on September 30, 2025, marking a significant step in the bankrupt crypto exchange's recovery efforts. This development coincides with a notable surge in the FTT token's value, which jumped by as much as 25% after a simple "gm" (good morning) post appeared on the social media account of convicted founder Sam Bankman-Fried. As reported by CoinDesk's Aoyon A., the dual events highlight both the progress in creditor restitution and the enduring speculative dynamics within the crypto market.

The $1.6 billion distribution is part of FTX's Chapter 11 Plan of Reorganization, with payments scheduled to begin for eligible creditors who have completed verification requirements. U.S. customer claims are set to receive an additional 40%, bringing their total recovery to 95%, while "Dotcom" customers will see a 6% payout, reaching 78% cumulatively. General unsecured and digital asset loan claims will receive a 24% distribution, pushing their total recovery to 85%, and convenience claims are expected to receive a 120% distribution.

The FTT token, once the native currency of the now-defunct FTX exchange, experienced a rapid price increase, surging between 25% and 60% within minutes of Bankman-Fried's "gm" post. This unexpected social media activity, despite Bankman-Fried serving a 25-year prison sentence, was later clarified to have been made by a friend on his behalf. The surge underscores the highly speculative nature of the token, which lacks fundamental utility since the exchange's collapse.

The crypto community reacted with a mix of anger, skepticism, and humor to the post and the subsequent FTT rally. On-chain investigator ZachXBT, in a now-deleted post, expressed strong condemnation, stating that Bankman-Fried "deserves zero human rights" given the extensive damage caused by FTX's implosion. Other prominent figures, including BitMEX co-founder Arthur Hayes, playfully questioned, "Wen memecoin?", highlighting the meme-driven speculation surrounding the token.

This incident is not the first time a post from Bankman-Fried's account has influenced FTT's price, with a similar, short-lived rally occurring in February 2024. While the FTX Recovery Trust continues its meticulous work to recover and distribute billions of dollars to creditors, contrasting with the speculative FTT activity, the market response to such events demonstrates the persistent influence of narratives and sentiment in the volatile cryptocurrency landscape.