– There is a new conspiracy theory circulating on Crypto Twitter suggesting that FTX founder Sam Bankman-Fried is secretly behind the controversial memecoin called BALD on Base.
– The BALD memecoin saw a massive gain of 289,000% within the first 24 hours of trading, but its price later plummeted more than 85% after the anonymous developer removed ETH in 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.
– The conspiracy theorists speculate that SBF may be trying to make money while under house arrest before his October trial.
– However, it’s important to note that SBF is not in prison but under house arrest at his parent’s home in California.
– Some crypto pundits 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, who has spoken with SBF since his arrest, refutes the conspiracy and clarifies that SBF has limited access to the internet and uses a flip phone without internet connection.
– Other traders and influencers also cast doubt on the likelihood of SBF’s involvement in the BALD memecoin scheme.
– The conspiracy theory has sparked debate and divided opinions on Crypto Twitter.