The ownership of Shiba In (SHIB) has added an unexpected twist to the crypto industry. Just how much of the crypto market cap does SBF, FTX, and Alameda research own? Rather, how much more will the crypto market tank as a ripple effect of the collapse of FTX and all the related entities?
SHIB owner revealed thanks to OpenSea
Since its creation, the creator of the meme coin, which has garnered massive popularity and attention in the crypto sphere, has remained anonymous. Nonetheless, recent findings by Coinbase directors have shed some light on the identity of Ryoshi’s creator.
The director discovered an OpenSea account associated with Kusama’s address with the intriguing name “Alameda,” which may be connected to the meme token’s founder. However, the director did not disclose Ryoshi’s true identity.
Yesterday, Grogan illustrated in a Twitter thread that Ryoshi’s Bitkub deposit address was associated with an “ALAMEDA”-named OpenSea account. Grogan observed that Ryoshi used the deposit address twice in 2020 and 2021. The director of Coinbase explained that Bitkub does not change deposit addresses, which the creator of the crypto may not have been aware of.
However, it is unclear why the meme coin’s founder would adopt Alameda’s OpenSea handle in 2020. It is possible that the founder is simply “squatting for memes.”
Alameda and SHIB’s suspicious past
According to sources, Ryoshi’s OpenSea account, ALAMEDA, may have a stronger connection to the Shiba Inu community than previously thought. As of Oct. 27, the most prominent Shiba Inu farmer sent $107 million in SHIB to several exchanges, including FTX, Huobi, Binance, and OKX.
Coincidentally, one exchange had just expanded the meme coin’s perpetual contracts at the same time, leading some to speculate that insider trading was involved. Furthermore, some speculate that this transaction contributed to the subsequent drop in the coin’s value, which plummeted after reaching an all-time high on the same day and has yet to recover.
Crypto enthusiasts are concerned about the mystery surrounding Shiba Inu’s OpenSea account and its link to his wallet. The relationship between the meme coin and Alameda also supports the notion that Ryoshi was involved in the rise and fall of the SHIB market.
Here are some interesting details – could SHIB tank?
In addition, Grogan noted that the OpenSea account issued an NFT inspired by the SBF. In September 2020, Meme Ltd. created the “SBF Legendary” collection. There are only ten items and eight owners at the time of writing. At current exchange rates, it is listed for 25 ETH, or roughly $39,000.
This is not the first time Grogan has made connections between the popular meme coin featuring a dog-themed coin and Alameda. In a thread from last month, the director of Coinbase shared data indicating that Alameda, the largest meme coin’s farmer at the time, likely created the peak of the last bull run for the meme coin by selling it just as FTX expanded the coin’s perpetual trading.
Despite the fact that Ryoshi’s identity remains unknown, recent discoveries have sparked curiosity and speculation within the crypto community. The rise of meme coins such as Shiba Inu has spawned a new market trend in which anonymous developers have begun producing Doge-themed coins and tokens that mimic what the meme coin has done. However, none of the newly developed digital assets replicated Shiba Inu’s success.
The creator of Shiba Inu is no longer active on social networks and has not commented on a potential portfolio analysis. Shiba Inu is the fifteenth largest cryptocurrency by market capitalization, with a price of $0.0000011, a decrease of 87% from its all-time high in October 2021.
