FTT, the native token of FTX, spiked over 30% within 15 minutes, reaching a high of 0.319 USDT before retreating to 0.274 USDT. The move coincided with rumors that the White House is considering a "250-person pardon" to mark the 250th anniversary of US independence. Sam Bankman-Fried (SBF) submitted a formal pardon request to the DOJ in June 2026. However, a White House spokesperson previously denied that President Trump plans to pardon SBF. The rally appears driven by speculative sentiment and may face a sharp reversal.
According to Bitget market data, FTT (FTX token) experienced a sharp short-term surge, climbing over 30% within 15 minutes to a high of 0.319 USDT before pulling back to 0.274 USDT. The token remains highly volatile.
Market rumors suggest that the White House is discussing a "250-person pardon" initiative to commemorate the 250th anniversary of American independence. FTX founder Sam Bankman-Fried (SBF) formally submitted a pardon application to the Department of Justice in June 2026. However, a White House spokesperson previously stated that President Trump has not considered granting a pardon to SBF. The validity of the rumor is unconfirmed, but it has triggered short-term price action in FTT.
Traders should exercise caution, as rallies driven by unverified speculation often carry high reversal risk. It is advisable to monitor official statements and avoid chasing the rally.
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