FTT token spikes 90% after SBF files for presidential pardon amid fraud conviction.

The FTT token of the defunct FTX exchange surged nearly 90% after Sam Bankman-Fried, FTX's co-founder, filed a presidential pardon request with the U.S. Department of Justice. Despite the rally, experts warn the spike is purely speculative since FTX is bankrupt and FTT has no real utility. The pardon request seeks restoration of civil rights after SBF's 25-year sentence for fraud, not immediate release. Market watchers remain skeptical about the pardon’s success, noting low odds and potential price volatility ahead.