A new memecoin BALD is currently on a parabolic run and there are ongoing speculations that it may belong to Coinbase CEO By Godfrey Benjamin 2 hours ago Updated 2 hours ago
In recent weeks, BALD, a relatively new memecoin has experienced a surge in value, with prices shooting up by an astonishing 10,000%. Such dramatic growth has raised eyebrows, prompting both excitement and caution among investors.
BALD’s Connection with Coinbase
A market analyst with the user name @matrixthesun highlighted on Twitter that the BALD memecoin has achieved an astounding 100X return in just a few hours. What sets this particular memecoin apart is its unique compatibility with BASE, a new blockchain developed by Coinbase crypto exchange.
BASE has been on Optimism, a layer 2 scaling solution for Ethereum. Optimism aims to tackle Ethereum’s scalability challenges by processing transactions off-chain, improving efficiency, and reducing transaction fees.
Amidst the frenzy surrounding BALD memecoin, rumors have emerged linking the BALD to the CEO of Coinbase, Brian Armstrong. The analyst noted a pattern pointing towards connections with a large supply of $cbETH, Coinbase’s variant of staked Ethereum (ETH).
The relationship raises questions, prompting some to wonder about the involvement of a Coinbase insider or the company’s CEO. While the identity of this whale is unknown, the large amount of $cbETH in their possession suggests a close relationship with the trading platform.
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Such a link could imply insider knowledge and access to private information, which could have influenced the timing and execution of the launch of the BALD memecoin.
Furthermore, the analyst highlighted that a massive influx of $12 million in liquidity has been added to BALD memecoin, adding another layer of intrigue to the already suspicious scenario. This substantial liquidity injection is particularly notable because it comes at a time when it is not possible to bridge out of the BASE chain, making it a fascinating and rare occurrence.
Is Brian Armstrong in this?
As the rumors circulate, attention inevitably turns to Brian Armstrong, the influential CEO of Coinbase. While there is currently no concrete evidence linking him directly to BALD Memecoin, the speculation is understandable given his prominent position within the cryptocurrency industry.
It is essential to remember that high-profile figures in the crypto world have occasionally been associated with memecoin projects in the past, endorsing or participating in them in various capacities. However, without verified evidence, these connections remain speculative and should be treated as such.
