On Thursday, Bankman-Fried’s parents had put their home up to raise money for the $250 million bond put on the former CEO, with friends and associates speculated to have helped come up with the 10% collateral required for his release. However this was achieved, Sam was released under house arrest.

Soon after the news broke, the price of FTX’s native token FTT made a significant jump. After trending just below $1 for the better part of the week, the 65% push had brought it above $1.1. This brought renewed vigor to the market and momentum rightfully picked up.