Shortly after news began to spread, multiple reports surfaced citing sources close to Garoppolo who said he had no knowledge of any trades and believes he was hacked.
The team said it does not respond to speculation or social media posts and only makes comments when a move is official.
But rumors have been swirling for weeks.
Garoppolo’s stock rose last season after he started two games when quarterback Tom Brady was suspended.
He was injured in the second game against the Dolphins, but threw three touchdown passes before he left the game.
The Instagram post on Garoppolo's account was live for only a few hours before it was deleted Friday morning.