Literally stands for "Fuck My Teeth" used in IM's to abbreviate the expression instead of typing the whole thing.
used as an exclamation similar to "well i'll be damned"
real life: Hey asshole step into my office.
Why?
Because your fucking fired!
Well Fuck My Teeth.
IM: Chick: guess what?
Guy: What?
Chick: Im Pregnant.
Guy: Well FMT.
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