The local token of the cryptocurrency exchange has ended FTX, $FTTsaw a significant increase in price, rising almost 90% from an initial price of about $0.22 to a daily high of $0.42. This sudden instability occurred after the popular news that the co-founder of FTX, Sam Bankman-Fried (SBF) has submitted a presidential pardon application to the United States Department of Justice (DOJ).
Why did FTT Price go up?
On June 8, 2026, Sam Bankman-Fried formally filed a presidential pardon request with the DOJ’s Office of the Pardon Attorney. Bankman-Fried is currently serving a 25-year prison sentence following his sentencing in 2023 on seven counts of wire fraud, securities fraud, and money laundering in connection with the $8 billion collapse of FTX.
Legal analysts note that the reservation refers to a request for “parole after completion of sentence,” a loose name that aims to restore civil rights rather than immediate release. However, the nuance of filtering was quickly overlooked by crypto traders. Administrators rushed to the low-water FTT token, driving a large increase and rapid interest rate within hours of public notice.
FTT Cost Analysis: Factor Considerations
According to the market data, FTT traded in a difficult position, close to $0.22 before exploding directly to $0.42. The 4-hour chart shows a distant, very green candle, pushing the Relative Strength Index (RSI) into the overbought zone above 80.
Market analysts warn that the rally is driven by sentiment and news. Because the FTX exchange is no longer active and the bankruptcy order has liquidated its assets to repay creditors, the FTT has no relevance. The rotation of the signal is stable and irregular, which makes it easy to adjust the “pump-and-dump” every time the heads arrive.
Example: CZ’s Strategic Pardon Creates Hope
Aggressive buying of FTT is largely fueled by recent developments in the crypto regulatory space. In October 2025, President Donald Trump granted a full and unconditional presidential pardon to Binance founder Changpeng “CZ” Zhao.
Zhao served four months in prison after pleading guilty to violating anti-money laundering (AML) laws under the Bank Secrecy Act. CZ’s pardon followed extensive corporate communications and extensive financial integration between foreign corporations and the Trump family’s digital assets, including World Liberty Financial.
Traders are betting that the Bankman-Fried lawmakers — who have dealt with Republican experts aligned with the administration — could adopt the same approach.
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What Happens After SBF? Reality vs. Expectations
Although the market is cheering, SBF’s chances of receiving relief are still low. Political watchers and financial advocacy groups, such as Americans for Financial Reform (AFR), immediately issued statements criticizing the amnesty request. Prosecutors point out that unlike the CZ case, which involved a failure to comply without charges of fraud, Bankman-Fried was found guilty of intentionally stealing billions in customer deposits.
Market predictions on platforms like Polimamarket they are currently selling the opportunity to be forgiven by the SBF at the end of 2026 below 8%. As the volume of sales slows down, market history shows that late buyers of FTT are at high risk of a severe shutdown as the initial hype wears off.
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