– Crypto Twitter is buzzing with a new conspiracy theory suggesting that FTX founder Sam Bankman-Fried is secretly behind the controversial memecoin called BALD on Base.
– The BALD memecoin saw a massive 289,000% gain within the first 24 hours of trading but then plummeted more than 85% after the anonymous developer removed liquidity.
– Some blockchain sleuths have linked the Ethereum wallet address responsible for deploying the Bald token to SBF, as it received funding from wallets associated with FTX and Alameda Research.
– Conspiracy theorists suggest that SBF may be trying to make up for his past fraud by launching BALD while under house arrest.
– However, it’s worth noting that SBF is not in prison but awaiting trial under house arrest at his parent’s home in California.
– Some argue that it is unlikely for SBF to be behind such a scheme due to his tight internet usage restrictions as part of his bail conditions.
– Crypto influencer Tiffany Fong clarifies that SBF has been using a flip phone without internet connection since April and does not have access to Twitter.
– Other traders and influencers cast doubt on the conspiracy theory and criticize Crypto Twitter for spreading baseless rumors.