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- New Memecoin BALD has rugpulled, days after its launch.
- Sam Bankman-Fried (SBF) is the prime suspect behind this project.
A recent rumor has suggested that embattled billionaire Sam Bankman-Fried (SBF) who was accused last year of mishandling funds that belong to FTX customers is somewhat connected to the sudden liquidity pull from new memecoin BALD. In just a short while, this disturbing information has spread like wildfire and has raised confusion about the former FTX Chief Executive Officer.
A mystery developer organized what could be likened to a rug pull by taking all of the liquidity out of BALD on the Ethereum Layer-2 network Base. The move made by this mysterious bad actor triggered a ripple effect in the crypto ecosystem. Netizens began to point accusation fingers at SBF who is currently under house arrest after it was discovered that the wallets being used by the perpetrator are linked to the 31-year-old man.
Adam Cochran, a partner at Cinneamhain Ventures said in a tweet that the BALD developer is like 90% SBF or an Alameda Research person at this point. He further mentioned that the same wallet address was involved in the SushiSwap community years ago. Based on Cochran’s observation,
“The early votes on sushi governance are super sus. When [SushiSwap creator Chef] Nomi bailed and the community stepped in there weren’t tons of us around and SBF was the one posting to snapshot votes.”
BALD Rugpull: Fingers Keeps Pointing to Former FTX CEO
Again Cochran claimed that he is 99% sure that the BALD rug pull was orchestrated by someone from Alameda Research, FTX, or SBF himself. Other netizens have observed unique phrases used on the BALD Twitter account like “quite well” and “nor”, saying that they bear close resemblance to a couple of posts made by Bankman-Fried and this discovery has further deepened the theory on his possible involvement.
As it concerns SushiSwap, the former FTX CEO was named Decentralized Finance’s (DeFi) newest hero and SushiSwap saviour in September 2020 when he took on the role of temporary chef for the Decentralized Exchange. He single handedly supervised the transfer of users’ funds from Uniswap to the new SushiSwap exchange.
Another interesting observation has pointed to how the on-chain activity correlates with Bankman-Fried’s court and bail dates. While this is yet to be confirmed, it is worth noting that prosecutors are already concerned about Bankman-Fried’s use of encrypted communication lately. He also recently tried to tamper with witnesses in his criminal trial.
Specifically, Bankman-Fried released personal documents which belonged to his business associate and former romantic partner Caroline Ellison. He gave this document to a reporter who planned to feature it in a New York Times article. The document detailed her struggles at Alameda Research and her relationship with SBF. Prosecutors’ intervention led to the approval of a gag order for the former FTX CEO.
Now, the United States Department of Justice (DoJ) is mulling the idea of keeping him in jail pending the time of his trial which is not until October. Should this demand be granted, it might deter SBF from being involved in possible new token launches.
