Former FTX CEO Suspected of Involvement in BALD Liquidity Pull
Former FTX CEO, Sam Bankman-Fried, is suspected of being connected to a recent liquidity pull from the BALD meme coin on Ethereum’s layer-2 network Base. The suspicion arose after wallets involved in the incident were found to have connections to Bankman-Fried. Adam Cochran, a partner at Cinneamhain Ventures, highlighted these connections and suggested that the person behind the BALD developer wallet could be either Bankman-Fried or someone from Alameda.
Uncovering Connections and Funds
Further investigation revealed that the BALD developer wallet had been receiving funds from both FTX and Alameda for two years. The wallet’s current balance was estimated to be around $22 million. Additionally, deposits from an address previously linked to the devaluation of Terra USD were found in the BALD deployer’s Binance wallet. Bankman-Fried’s legal troubles and restricted internet access due to house arrest added fuel to the conspiracy theories surrounding his involvement.
Unproven Conspiracy Theories and Skepticism
While many on Crypto Twitter have pointed fingers at Bankman-Fried, these speculations remain unconfirmed. Some users find the connections intriguing, while others believe the BALD conspiracy theory is baseless. However, the majority of Crypto Twitter users do suspect that the wallet is controlled by someone close to Bankman-Fried.
The BALD Developer Reintroduces Funds
Under mounting pressure on social media, the BALD developer returned 100 ETH to the pool, causing the meme coin’s value to surge and recover from its previous low. The story continues to unfold.
The Hunt for Meme Coin Gains
Despite the disappointment of the BALD coin’s rug pull, early investors saw significant returns. Some investors transformed a few hundred dollars into millions. Crypto enthusiasts are now turning their attention to the next potential meme coin, Hairy Token ($HAIRY), which has shown promising signs of authenticity and has seen a meteoric rise in value.
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