Shkreli Confirms Involvement in DJT Token

Martin “Pharma Bro” Shkreli announced on Tuesday that he was behind the controversial DJT token during a live X spaces session. This revelation came just days after Shkreli denied involvement, even as renowned crypto figures like GiganticRebirth and ZachXBT ramped up efforts to uncover the token’s creator.

Shkreli directly messaged blockchain investigator ZachXBT, asserting his role in the token’s creation alongside Barron Trump. This claim was subsequently confirmed during his X Spaces podcast. After going viral on Monday, the DJT token had already captured significant attention, with speculation rife about its alleged connections to Donald Trump and his son Barron.

Blockchain investigators discovered that the DJT token’s Telegram channel had the same administrators as a token previously supported by Shkreli. Despite his initial denials, the token continued to surge in popularity, prompting further scrutiny. The situation escalated on Tuesday night when GiganticRebirth, an influential crypto trader known as GCR, publicly challenged Trump’s alleged involvement.

GCR, recognized for his substantial influence in the crypto market, placed a $100 million bet against Trump’s involvement in the DJT project. This wager was a significant escalation from an earlier $1 million bet proposed by another prominent trader, Alex Wice. Shkreli’s provocative posts referencing Wice’s bet brought GCR, a known Trump supporter, back into the spotlight.

GCR argued that the DJT token’s legitimacy would only be confirmed if Donald J. Trump acknowledged launching a meme coin. He suggested that a group of crypto whales might be behind the token’s creation rather than Trump. GCR also claimed he was invited to join the DJT project but declined, a claim that Shkreli refuted.

In response to the ongoing controversy, on-chain intelligence firm Arkham offered a $150,000 bounty for information leading to the DJT token’s creator. ZachXBT quickly submitted his findings to Arkham. This led to Shkreli’s messages and subsequent confirmation of involvement in the token’s creation.

Amidst the unfolding drama, transactional data flagged by ZachXBT revealed significant movements. A major DJT holder sold nearly $830,000 worth of tokens late Tuesday while still holding millions in Shkreli’s other project, Shoggoth.ai. The situation remains fluid, with intense scrutiny from the crypto community continuing to build.