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Elena R
Elena R
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Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.
- Jun 19, 2024 10:18 UTC
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DJT Token Mystery SOLVED? Martin Shkreli Reveals Involvement
Martin Shkreli ("Pharma Bro") revealed his involvement in creating the DJT token, named after Donald Trump's son Barron.
Shkreli's claim came after a crypto bounty hunt and a $100 million wager on the token's legitimacy.
Evidence suggests Shkreli launched the token in April, though he initially denied any connection.
Martin Shkreli, famously known as ‘Pharma Bro’, has caused a stir by revealing his involvement in creating DJT, a new token built on the Solana blockchain. The token’s launch has sparked considerable interest, fueled by speculation linking it to Barron Trump, the former US President’s son.
Shkreli disclosed his role in DJT’s inception during a June 18th session at X Spaces. He explained that he had been part of the project since April, helping to kickstart it under a friend’s initiative. According to him, around ten entities contributed to developing DJT, with roughly forty to fifty people aware of the project.
Bounty and Challenges
Before Shkreli’s announcement, Arkham Intelligence had offered a $150,000 bounty to uncover DJT’s creators. This followed a $100 million challenge issued by crypto trader GCR, aimed at verifying the token’s legitimacy.
During the X event, blockchain investigator ZachXBT shared insights from direct messages with Shkreli, who claimed to possess over 1000 documents supporting his pivotal role in DJT’s creation. This revelation came shortly after ZachXBT submitted evidence for the bounty, highlighting Shkreli’s significant influence on the project.
Blockchain Connections
ZachXBT also revealed blockchain transactions linking DJT to Shkreli, including a significant token sale worth $832,000 exchanged for USDC stablecoin. Notably, the same wallet held substantial amounts of Entebe, Shkreli’s associated project token, further cementing his ties to DJT.
Political Allegations
Shkreli had earlier hinted at DJT’s affiliation with the Trump campaign, a claim that gained traction following his $100 million wager against GCR. This high-stakes bet emphasized the growing controversy surrounding DJT’s authenticity and its potential political associations.
Martin Shkreli’s involvement in DJT adds complexity to the cryptocurrency and meme token market.
Also Read: US Bitcoin ETFs Witness 4th Day of Outflows Of $152M, Fidelity & Grayscale Leading
The DJT saga continues. What’s your prediction for the next chapter?
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