- Blockchain investigators suspect a connection between the former FTX CEO Sam Bankman-Fried, currently under house arrest, and the sudden withdrawal of liquidity from the BALD meme coin.
- Amidst the controversy, some Twitter users also noted linguistic similarities between Bankman-Fried’s posts and those of the BALD Twitter account, but some members of the crypto community remain cautious, stating these remain as speculations.
Blockchain Analysts Point to Sam Bankman-Fried in BALD Coin Liquidity Mystery
The cryptoverse is awash with speculation after a sudden withdrawal of liquidity from the BALD meme coin, a token hosted on the Ethereum layer-2 network Base. Blockchain investigators have discovered intriguing links that seem to point to former FTX CEO Sam Bankman-Fried, who is currently under house arrest and possesses limited access to the internet.
Solving the Crypto Puzzle
Adam Cochran, a partner at Cinneamhain Ventures, stirred the crypto pot when he insinuated that the mysterious BALD developer could be Bankman-Fried or an associate of Alameda. The blockchain sleuth noted that the wallet address in question was previously involved with the SushiSwap community, adding another layer of intrigue to the investigation. This observation points towards a potential connection to Bankman-Fried, who was acknowledged for rescuing funds from Uniswap and transitioning them to SushiSwap back in 2020.
Additional evidence scrutinized by Cochran and other investigators links the BALD developer wallet to frequent deposits from FTX and Alameda over a two-year span. This wallet has an impressive balance of 12,331 ETH, valued at approximately $22 million at the time of writing.
Is Bankman-Fried Involved?
While there is a mounting wave of speculation pointing at Bankman-Fried, it is crucial to remember that these remain as conjectures at this stage. Amidst the speculation, some members of Crypto Twitter have exercised caution. User Midas admits,
“A lot of this is hard speculation, but too crazy not to think about it.”
Adding to the pot of evidence, linguistic similarities have been noted between the posts of the BALD Twitter account and those by Bankman-Fried. Notably, the use of phrases like “quite well” and “nor” have been highlighted as potential linguistic markers.
Continuing Controversy and Recent Developments
Bankman-Fried has been under house arrest since being indicted on eight counts of conspiracy and fraud following the collapse of FTX. There have been ongoing concerns about the ex-CEO’s internet activity during his house arrest, which has led to repeated clashes with prosecutors. In fact, his alleged involvement in the BALD liquidity pull could potentially lead to a revocation of his $250 million bond.
The saga took an unexpected twist when, after hours of relentless social media pressure, the BALD developer reintroduced 100 ETH to the liquidity pool. This move sparked a sudden surge in the value of the meme coin, quadrupling it from its recent lows. As the BALD coin mystery continues to unfold, all eyes remain fixed on Bankman-Fried and his potential involvement.