Sam Bankman-Fried, founder of the cryptocurrency derivatives exchange FTX, has been an influential player in the industry for years. His involvement with multiple successful crypto ventures has made him a highly regarded and respected figure within the community.
On July 30th, BALD, a memecoin that humorously references oinbase">Coinbase CEO Brian Armstrong, was introduced and within the first 24 hours of trading, it experienced an astounding growth of 289,000%.
Following the removal of thousands of Ethereum in liquidity by an anonymous developer, the price of BALD plummeted by more than 85%. Many investors suspected a “rug pull,” though the developer has denied these accusations.
As a result of this controversy, several blockchain analysts have conducted investigations into the developer’s on-chain history. Some have concluded that Sam Bankman-Fried, founder of FTX and Alameda Research, may be linked to the BALD developer’s Ethereum wallet address. This wallet address had received funding from wallets associated with Bankman-Fried’s companies.
One anonymous commentator even suggested that Bankman-Fried’s alleged involvement in the situation could potentially be an attempt to recoup losses and “keep it all back from prison.” However, it is important to note that Bankman-Fried is not currently in prison. He is under house arrest at his parent’s home in California while he awaits his upcoming trial in October.
Despite these accusations, it is worth noting that no concrete evidence has been presented that definitively links Bankman-Fried to the BALD developer or the controversial liquidity removal. As the story continues to unfold, it remains to be seen if any new evidence will emerge regarding the relationship between Bankman-Fried and BALD.
An anonymous developer removed a significant amount of Ethereum from a token called BALD, causing its price to drop by over 85%. This sparked allegations of a “rug pull,” but the developer denied these claims. Blockchain analysts discovered a possible link between the BALD developer’s wallet address and Sam Bankman-Fried, the founder of FTX and Alameda Research. Some speculated that Bankman-Fried’s involvement was an attempt to recover losses. However, it’s important to note that Bankman-Fried is under house arrest and not currently in prison. There is no concrete evidence connecting him to the BALD developer or the liquidity removal.
Additional speculation includes suspicious transfers to blacklisted USDT addresses and allegations of orchestrated timing to aid SEC Chair Gary Gensler’s case against oinbase">Coinbase. A pseudonymous commentator noted eerie similarities between the BALD developer and Bankman-Fried, such as their social media sentence structure. The wallet associated with BALD has a history of activity and participation in DeFi platform voting. As the situation unfolds, it remains to be seen if new evidence will emerge regarding the relationship between Bankman-Fried and the BALD developer.
#Crytocurrency #BALD #memecoin #Sam Bankman-Fried
