The web of intrigue spanning the world of crypto has ensnared US firm Alameda Research. Tenuous links between Alameda and the recent BALD token hullabaloo reveal the unfolding complexities of international blockchain markets.
Controversy arises following the astounding 4,000,000% rally of BALD prices since its issuance, growing a $68 million market capital, thus catching the eye of those in the crypto sphere. Acute observers of on-chain data detected activity between Alameda wallet addresses and the deployer of BALD, raising eyebrows and sparking heated discussions on X community platform.
The embers ignited even further when the deployers of BALD abruptly de-coupled millions of dollars from the token’s liquidity on Decentralized Exchanges (DEXs). An action rendering holders helpless, unable to sell at the once promising rates.
Yet, the ultimate question stands tall – who’s behind this arguably grandiose ambition of a token? Interestingly, despite on-chain activity linked to Alameda, there’s no concrete evidence tying Alameda’s founder, Sam Bankman-Fried, directly with the BALD launch. Here we get into the nitty-gritty, as Alameda wallets could nominally be used by a myriad of associates, including former CEO, Caroline Ellison, or even ex-employees of the now-bankrupt trading firm.
As reported on X by crypto news aficionado Colin Wu, factual probability seems to exempt Bankman-Fried and any core Alameda figures from the ‘rug-pull’, upholding a sceptical stance. Surrounding these exonerations are whispers of an alternative primary suspect: Sam Trabucco, who held the reins of Alameda until August 2022.
Head of research for crypto firm Wintermute, Igor Igamberdiev, suggests Trabucco as the most plausible puppet-master, while confessing the absence of concrete evidence. The exploration into the BALD token situation underscores the need for increased transparency, accountability and regulatory mechanisms in the crypto world. The market’s entropy is both its beauty and its tragedy – but most certainly, the seed to endless readership fascination.
Source: Cryptonews
