• Sam Coins, such as FTT, Solana, Oxygen, and Maps, have seen an impressive increase in value in the past weeks despite the FTX exchange being offline and its former CEO, Sam Bankman-Fried, being tried for criminal charges.
• Following Bankman-Fried’s arrest, there were worries about the survival of Sam Coins, but their prices have since made an impressive ascent.
• FTT, in particular, has seen a 160% increase this month and is now trading at $1.93, a far cry from its recent high of $51.68 in late March 2022.
The world of cryptocurrencies has seen a lot of ups and downs in the past few months, but one coin has seen a surprising recovery this month: Sam Coins. These coins are tethered to the now-defunct FTX exchange, which is currently undergoing bankruptcy proceedings, and its former CEO, Sam Bankman-Fried, is being tried for a variety of criminal charges, including allegedly scamming FTX clients and investors. Despite these issues, the value of these crypto assets has increased in recent weeks.
FTT, the native token of FTX, was a prominent piece of Alameda Research’s (SBF’s cryptocurrency trading firm) balance sheet, and when Bankman-Fried was arrested, investors became concerned about the future of Sam Coins. Despite these worries, the value of FTT has risen significantly this month, up 160% from its low of late March 2022. It is now trading at $1.93, a far cry from its previous high of $51.68.
The recovery of Sam Coins may be due to rumors that FTX’s operators are considering the possibility of re-launching the exchange. A recent New York Times report stated that Bankman-Fried’s team is exploring the idea of a “rebooted” FTX, with the aim of helping investors recover their money. This news has helped to buoy the price of Sam Coins, which have seen the greatest increase in value when compared to other coins in the crypto market.
The other Sam Coins have also seen impressive increases in value, with Solana, Oxygen, and Maps all up more than 20% this month. These coins have been heavily promoted by Bankman-Fried, and their recent surge may be attributed to a combination of the aforementioned rumors, as well as the overall bullish sentiment in the crypto market.
In conclusion, the value of Sam Coins has seen an impressive increase this month, despite the ongoing legal issues surrounding FTX and its former CEO. This may be due to rumors of a potential reboot of the exchange, as well as the overall bullish sentiment in the crypto market. It remains to be seen if these coins can sustain their newfound momentum, but for now, investors are certainly taking notice.