Alameda and SBF Suspected in BALD Meme Coin Liquidity Mystery

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Former FTX CEO, Sam Bankman-Fried, currently under house arrest with restricted internet access, is suspected by some crypto-sphere figures of being linked to a recent liquidity pull from the BALD meme coin on Ethereum’s layer-2 network Base. The incident occurred on Monday when an unidentified developer withdrew all liquidity.

This theory arose after Adam Cochran, a partner at Cinneamhain Ventures, highlighted that the wallets implicated have connections to Bankman-Fried.

When Nomi, the creator of SushiSwap, left, not many were involved, but SBF was actively participating in snapshot votes.

Adam Cochran took to Twitter to share his observations, stating that the BALD developer’s involvement seemed strongly linked to either SBF or someone from Alameda, referencing past connections of the wallet address with the SushiSwap community. Cochran pointed out, “When Nomi, the creator of SushiSwap, left, not many were involved, but SBF was actively participating in snapshot votes.”

He further emphasized on Twitter, “It’s highly likely the person is from Alameda, FTX, or SBF himself.” Cochran also commented that some of the former FTX team suspected it might be Sam Bankman-Fried. Interestingly, specific phrases from the Bald Twitter account were found to resemble tweets by Bankman-Fried. Hype, a pseudonymous investor, noted, “Bald deployer DYDX’s tweets sound very much like SBF’s style.” This investor also mentioned that the blockchain activity corresponds with Bankman-Fried’s legal timeline.

Further fueling the narrative, a Reddit investigation revealed that the BALD developer wallet had been receiving funds from both FTX and Alameda over a span of two years. The current balance of this wallet was estimated to be approximately 12,331 ETH, which equates to around $22 million. Another intriguing detail shared by a Twitter user was the regular deposits from an address into the BALD deployer’s Binance wallet, which was previously linked to the devaluation of Terra USD last May.

The legal troubles of Bankman-Fried came to light when he was placed under house arrest after being charged with eight counts of conspiracy and fraud by the U.S. Department of Justice. This was a consequence of the FTX collapse. Bankman-Fried’s legal representatives, along with the prosecution, faced challenges monitoring his online activities, which spanned multiple devices in his residence. As per his bail conditions, he was to use a basic flip phone. In a turn of events last month, the prosecutors appealed to judge Lewis Kaplan to annul Bankman-Fried’s $250 million bond, citing potential tampering with witnesses.

Unproven Conspiracy Theories?

While many on Crypto Twitter are pointing fingers at Bankman-Fried, it’s essential to note that these are still unconfirmed speculations. As Twitter user Midas remarked, “This speculation is intense, but it’s too intriguing to ignore.” On the other hand, Tiffany Fong expressed skepticism, tweeting that the BALD conspiracy theory seems baseless. The majority on Crypto Twitter might not be outright accusing Bankman-Fried, but many believe the wallet is controlled by someone close to him.

In recent developments, after facing relentless pressure on social media, the BALD developer reintroduced 100 ETH to the pool. This action led the meme coin’s value to surge, recovering from its prior low. The narrative continues to develop.

While $BALD Turned Out a Flop, Early Birds Saw Significant Returns

Though the $BALD coin disappointed many with a rug pull, it had previously rendered handsome profits for some of its initial believers. An investor known on social media as @cheatcoiner.eth reported a whopping gain, transforming a mere $500 into a staggering $1.4 million.

In another instance, @Lookonchain pointed out that within a day, four crypto addresses multiplied 0.534 ETH into 554 ETH.

The allure for meme coin enthusiasts to uncover the next big gain, be it 100x or even 1,000x, doesn’t seem to be waning anytime soon. In this hunt, several crypto connoisseurs believe they’ve pinpointed the next big thing in meme coins: Hairy Token ($HAIRY).

Recently, $HAIRY saw a meteoric rise, surging by an impressive 7,000% within a day. According to DEXTools, it boasts a current market capitalization above $700,000 and is held by almost 300 enthusiasts. Unlike its predecessor, $BALD, $HAIRY shows promising signs of authenticity. An examination on DEXTools confirms several positive indicators: the liquidity of $HAIRY is secure, its contract is validated, it steers clear of honeypot tactics, there are no transaction taxes imposed on buying or selling, and the contract creator has relinquished all control, ensuring no undue benefits.

Given its relatively modest market cap and robust, scam-resistant contract setup, it’s plausible that $HAIRY might attract those disappointed by $BALD, potentially even overtaking the nine-figure market cap its competitor once held.

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