1 year ago
Crypto Twitter has been abuzz with statement aft a caller conspiracy mentation has suggested FTX laminitis Sam Bankman-Fried whitethorn beryllium secretly down 1 of the astir arguable caller memecoins connected Base.
The BALD memecoin, which draws its namesake from a humorous notation to Coinbase CEO Brian Armstrong, was launched connected July 30 and witnessed an unthinkable 289,000% gain wrong the archetypal 24 hours of trading.
just to drawback you up
SBF the feline with the fake crypto speech and liable for 1 of the biggest frauds successful past whitethorn person launched a $30m scam past play nether a memecoin called BALD portion connected location apprehension successful his parents basement utilizing the blockchain of a antheral who was… pic.twitter.com/VjnSJCxg0E
After the token’s anonymous developer removed thousands of ETH successful liquidity, the terms of BALD plummeted much than 85% — sparking allegations of a rug pull, which the developer has denied.
The ordeal led a fig of blockchain sleuths to excavation into the developer’s on-chain past, prompting immoderate to gully a nexus to SBF arsenic the Ethereum wallet code liable for deploying the Bald token had received thousands of ETH successful backing from wallets associated with FTX and Alameda Research.
One of the conspiracy theorists, anonymous decentralized concern (DeFi) commentator Downsin, suggested that the nexus betwixt the 2 meant that it was SBF “legit trying to marque it each backmost from prison.”
However, it’s worthy noting that SBF is not successful prison, he’s awaiting his October trial nether house apprehension astatine his parent’s home successful California.
Go backmost to the $BALD deployer funding, it's legit @SBF_FTX trying to marque it each backmost from prisonhttps://t.co/tuDsIEqI4G pic.twitter.com/QDn3LYWB0l
— Downsin (@DeFiDownsin) July 30, 2023Adding further substance to the rumor was Blockworks information exertion Andrew Thurman, who found that the aforesaid wallet code had made astir 400 transfers to blacklisted USDT addresses and had “serious Alameda connections for sure.”
Prominent pseudonymous trader, Hsaka spelt retired a conspiratorial script successful which the motorboat of Bald — and its consequent headline-grabbing clang — was perfectly timed to supply SEC Chair Gary Gensler with much ammunition to prosecute erstwhile FTX rival Coinbase.
>SBF spotted successful NY
>One complaint against him dropped fewer days later
>BALD launches mates days later
>Sucks successful bulk of onchain mindshare/liquidity
>BALD rugs
>Gary present has immoderate ammo against Coinbase pic.twitter.com/nXLasTyG5P
Another anonymous commentator called “Hype” highlighted the fig of eerie similarities that the developer shared with SBF, astir notably the condemnation operation of his societal media posts. Additionally, Hype shared that the wallet had been astir for a agelong clip and was 1 of the archetypal voters connected proposals connected the DeFi level Sushi Swap.
‘Crypto Twitter is mentally ill’
Some crypto pundits reason it is improbable that SBF would beryllium down specified a scheme, arsenic helium presently faces a fig of tight restrictions connected his net usage arsenic portion of his bail conditions.
Crypto influencer Tiffany Fong — who has spoken with SBF connected aggregate occasions since his apprehension — slammed the conspiracy, clarifying that SBF has been utilizing a “flip telephone without net connection” since his bail conditions were revised successful April. In a consequent post, she called Crypto Twitter “mentally ill.”
Guys, SBF hasn't had entree to a mean telephone oregon laptop since April 2023 erstwhile his bail conditions changed. He's fundamentally been utilizing a flip telephone without net transportation & a laptop with restricted entree to whitelisted websites (e.g. NYT, WSJ, Courtlistener, etc).
Note: He…
“He specifically does NOT person entree to Twitter, truthful the claims that he’s @BaldBaseBald owed to ‘sentence structure’ look similar a agelong to maine lol,” Fong added.
Additionally, Fong explained that each of SBF’s visitors are searched by information and are forbidden from bringing successful extracurricular physics devices.
Checked successful for 5 minutes and seemingly crypto Twitter believes that SBF rugged $BALD adjacent though helium has nary net access, machine oregon telephone and is nether location apprehension and astatine hazard of going to jailhouse forever.
This spot is ridiculous.
Pseudonymous trader HORSE besides formed uncertainty connected the likelihood of specified a scenario, telling his 180,000 followers to instrumentality disconnected their “tinfoil hats.”
Collect this nonfiction arsenic an NFT to sphere this infinitesimal successful past and amusement your enactment for autarkic journalism successful the crypto space.
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