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Martin Shkreli, infamously known as “Pharma Bro,” claimed he is behind the popular DJT token, which soared on June 18 after rumors Donald Trump might be behind it.
Shkreli’s claim came just after Arkham Intelligence offered a $150,000 bounty to uncover the token’s creator
Shkreli, previously convicted of securities fraud, claimed his participation in the TrumpCoin (DJT) token on June 18 during an X Spaces. He said that Barron Trump, the son of former US President Donald Trump, was also directly involved in creating the token.
Shkreli was convicted in 2017 in federal court on two counts of securities fraud and one count of conspiracy. He received a 7-year sentence and over $70 million in fines.
The DJT token soared 442% at one point on June 18 amid a crypto crash to be among only a few market gainers amid speculation that Trump himself might be behind the token.
It has since corrected and is down about 5.3% in the past 24 hours as of 10:56 a.m. EST with a market cap of $109 million, according to GeckoTerminal.
Martin Shkreli Messaged ZachXBT On X
Before the X Spaces, blockchain sleuth ZachXBT revealed that Shkreli had messaged him on X. In the messages, he claimed to hold of “over 1,000 pieces of evidence” to prove that he and Barron were involved in the project.
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
Shkreli’s message to ZachXBT came after he submitted his entry into the $150,000 Arkham Intelligence bounty. Arkham said it would give this bounty to anyone who could prove the identity of the DJT token creator.
Blockchain sleuth ZachXBT also noted that a blockchain transaction could confirm Shkreli as being involved in the DJT token. One wallet address holding a substantial amount of the Shoggoth.ai project by Shkreli also sold $832K worth of DJT tokens.
The crypto market has been abuzz with speculation over who could be behind the DLT token. Data from PolyMarket shows that $2 million worth of bets have been placed, with an 8% chance that Trump could be the token’s creator.
Trump’s Growing Influence on Crypto
Trump’s recent pro-crypto remarks have made him a household name in the cryptocurrency industry. The presidential contender has inspired a series of meme coins, including the popular MAGA (TRUMP) and Doland Tremp (TREMP).
The TRUMP token currently has an over $406M market cap, while the newly launched TREMP token has a $69 million market cap.
Despite being new, TREMP is amassing popularity. The token was recently listed on the Kraken exchange. In contrast, TREMP has yet to secure significant exchange listings.
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