An unsettling rumor is sweeping across the crypto community following the sudden liquidity pull from the BALD meme coin. Several voices within the sector are suggesting a potential link to the already embattled ex-CEO of FTX, Sam Bankman-Fried.
This has stirred up more confusion surrounding the former FTX leader, who is already ensnared in a legal quagmire.
In the eye of the storm, a mysterious developer has abruptly withdrawn all liquidity from the BALD meme coin, creating ripples within the crypto sphere. The aftermath has led several blockchain observers to suspect a correlation to Sam Bankman-Fried, the erstwhile FTX chief. Currently under house arrest with severely limited online access, such allegations add to the increasingly perplexing narrative surrounding Bankman-Fried.
"From the looks of it, the BALD developer could likely be SBF or someone within Alameda," shared Adam Cochran, a partner at Cinneamhain Ventures, referencing the associated wallet address’s prior SushiSwap involvement. Cochran was further quoted stating, "I am almost certain it is either someone from Alameda, FTX, or SBF himself."
Simultaneously, distinct phrases used by the BALD Twitter account, bearing close resemblance to Bankman-Fried's own posts, have intensified the conjecture around his possible involvement. Thus, the question remains: is the former FTX head the unseen hand behind the BALD debacle?
A crowdsourced investigation on Reddit has added fuel to the fire, suggesting that the BALD developer wallet had been a recipient of deposits from FTX and Alameda over the past two years. Currently harboring 12,331 ETH, equivalent to nearly $22 million, this wallet has emerged as a key focal point in the BALD conundrum.
Adding to the complexity, one Twitter user (@cryptobran_) highlighted that an address routinely depositing into the BALD wallet had previously been implicated in the Terra USD depegging incident last May. As these puzzle pieces fall into place, the implications could further darken the clouds over the involved entities.
House Arrest and Legal TroublesBankman-Fried's legal troubles continue to mount. The former FTX leader, currently under house arrest following his indictment by the U.S. Department of Justice on multiple counts of conspiracy and fraud, is under scrutiny for his online activities. In the wake of the BALD incident, the growing evidentiary trail implicating his potential involvement cannot be ignored.
While the focus of the crypto community is firmly on Bankman-Fried, caution is being advised as the risk of unfounded speculation remains high. Nonetheless, the suggestion that someone within Bankman-Fried's inner circle may be involved has found broad acceptance. The evolving role of Sam Trabucco, former co-CEO of Alameda, has drawn attention, leaving the crypto community in suspense.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
