Even ‘Sam Coins’ Have Soared in Crypto’s Swift $250 Billion Jump
- Crypto market has rebounded past $1 trillion from 2022 selloff
- Climb includes sharp moves in array of smaller, riskier tokens
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The crypto rebound has gained so much speculative vigor that even tokens torpedoed last year by their dependence on discredited mogul Sam Bankman-Fried have rallied, with some more than doubling this month.
The likes of FTT, Solana, Serum, Maps and Oxygen have surged despite doubts about their viability following Bankman-Fried’s arrest on charges including fraud. FTT, the token of his FTX exchange until the latter imploded, is up 160% in January after losing nearly all its value in 2022, CoinGecko data shows.