TLDR
- Martin Shkreli, also known as “Pharma Bro,” claims he co-created the DJT token with Barron Trump.
- Shkreli’s admission came after a series of events, including a $100 million bet with crypto trader GCR and a $150,000 bounty offered by Arkham Intelligence to identify the token’s creator.
- Blockchain sleuth ZachXBT uncovered evidence linking Shkreli to the token, including a large DJT holder who also holds tokens from Shkreli’s project, Shoggoth.ai.
- The Trump campaign has not officially commented on the matter as of Wednesday.
- Despite the drama, DJT token prices have fallen by 58% in the past 24 hours.
The controversial DJT token, which made waves in the crypto community this week due to its supposed links to former U.S. President Donald Trump and his son Barron, has been claimed by an unlikely figure: Martin Shkreli, the infamous “Pharma Bro.”
Shkreli, a former pharmaceutical executive and convicted securities fraudster, announced on Tuesday that he was behind the token’s creation, following a series of events that drew the attention of prominent figures in the crypto space.
The drama began when Shkreli engaged in a $100 million bet with crypto trader GiganticRebirth (GCR) regarding the authenticity of the DJT token.
GCR, a known Trump supporter, called out the supposed involvement of the Trump family in the project, claiming that a “cabal of crypto whales” was behind the token’s creation and that they were attempting to bribe people in Trump’s orbit to lend credibility to the project.
As the debate intensified, blockchain intelligence firm Arkham offered a $150,000 bounty to anyone who could definitively prove the identity of the DJT token’s creator.
For those who are confused and need additional context.
Earlier today Arkham announced a $150K bounty for the identity of the DJT creator
11:49 pm UTC I reply to Arkham saying I submitted for the bounty
11:57 pm UTC Martin Shkreli panic DM’s me
12:27 am UTC Martin Shkreli… pic.twitter.com/pKCQDOo7AZ— ZachXBT (@zachxbt) June 19, 2024
This prompted blockchain sleuth ZachXBT to submit his findings to Arkham, which included evidence linking Shkreli to the token. In a direct message to ZachXBT, Shkreli claimed to have “1000 pieces of evidence” that he created the token with Barron Trump.
Shkreli confirmed his involvement in the token’s creation during an X Spaces podcast, where he stated that he was “helping a friend” launch the token in April and that around 10 people were directly involved, with 40 to 50 people aware of the project. He also cited Barron Trump as being among those involved.
ZachXBT further strengthened the alleged connection between Shkreli and DJT by revealing transactional data showing a large DJT holder selling nearly $830,000 worth of the tokens. Notably, the same wallet also held millions of dollars worth of tokens from Shoggoth.ai, another project associated with Shkreli.
Despite the drama surrounding the DJT token, the Trump campaign has not officially commented on the matter as of Wednesday. The token’s prices have also taken a hit amid the controversy, with a 58% drop in the past 24 hours, according to DEXTools data.
