Over the weekend, a new cryptocurrency token named BALD gained significant attention, experiencing a rapid surge in value of nearly 4,849,900%. However, the excitement was short-lived as the creator of BALD removed 11,137 ETH liquidity (equivalent to approximately $20 million), leading to an abrupt 87% crash of the token’s value.
In the aftermath, members of the crypto community began speculating that Sam Bankman-Fried, the founder of FTX, could be associated with the project. A blockchain securities and analytics firm, PeckShield, added fuel to the rumors by using the hashtag “SBF” in one of its recent tweets, highlighting that the FTX platform was one of the major exchanges used by the address to transfer the affected ETH.
As allegations spread, more people noticed similarities in sentence structures and language usage between the BALD deployer and SBF. The deployer was also reportedly the first voter on all SushiSwap proposals and the largest dYDx farmer. Additionally, there were claims that the Twitter handle of Serum, another project associated with SBF, was changed and used to promote BALD.
Adam Cochran, a prominent figure in the crypto space, shared his thoughts on Twitter, suggesting that SBF or someone connected to Alameda (SBF’s firm) might be involved. Cochran pointed out that only a few people had access to the Serum Twitter account, and apart from senior members of Alameda, most of them were not present during the time of Sushiswap votes. Consequently, he surmised that SBF might have deceived people once again.
Cryptocurrency Twitterverse Gathers Proof in Search of Transparency
Community members have been actively investigating the on-chain activities of developers, attempting to establish connections between the BALD deployer and SBF. This interest arose because the Ethereum wallet address associated with the BALD deployer received substantial funding from wallets linked to FTX and Alameda Research, both associated with SBF. Some have speculated that SBF might be attempting to recover his losses through this project.
It is essential to clarify that SBF is not currently in prison but is under house arrest at his parents’ residence in California while awaiting trial in October. At first glance, the claims made about SBF’s involvement may seem questionable because his bail conditions limit his internet usage. According to Tiffany Fong, he has been using a “flip phone without internet connection” since his bail conditions were revised in April. She also mentioned that SBF’s writing style includes double spaces between sentences, making the linguistic similarities used to connect him to BALD seem unlikely, as he doesn’t have access to Twitter.
In summary, some community members have been trying to link SBF to the BALD project based on on-chain funding connections, but the evidence presented may not hold up when considering SBF’s current situation and restricted internet access.
Even the analyst known as ‘Wolf Of All Streets’ shared the same view, referring to Crypto Twitter as “ridiculous.” Nevertheless, some individuals highlighted that SBF has extensive connections in various spheres, which keeps the door open for speculation.