Martin Shkreli takes credit as the founder of DJT cryptocurrency

Martin Shkreli, the infamous “Pharma Bro” and former CEO of Turing Pharmaceuticals, has recently made headlines for his claims of being the founder of the DJT cryptocurrency. Shkreli initially denied any involvement in the token’s creation but later took credit for it, alleging that he had partnered with Barron Trump, the 18-year-old son of Donald Trump, to launch the currency.

The drama surrounding DJT began when research firm Arkham offered a $150,000 bounty to anyone who could prove the identity of the token’s creator. Shortly after the bounty was announced, a crypto sleuth known as ZachXBT claimed the prize and identified Shkreli as the founder of DJT.

Shkreli doubled down on his claims in a recent X (formerly Twitter) Spaces broadcast, stating that he had mentored Barron Trump and helped him make decisions regarding the token launch. He also alleged that Donald Trump was aware of the DJT token and claimed to have receipts proving Barron’s involvement.

Roger Stone, a political consultant with ties to Donald Trump, took to X to defend the Trumps, stating that they were not involved in any way with DJT. Shkreli quickly fired back at Stone, questioning his relationship with Barron and insinuating that Stone was a supporter of the rival MAGA meme coin.

The controversy surrounding DJT has led to significant price fluctuations for the token. It was down 6.5% on Thursday but has gained over 90% in the past week, trading at $0.002806 per token, according to Coin Market Cap. In contrast, the MAGA cryptocurrency is trading at just under $7.50 per token.

The unsubstantiated allegations of Barron Trump’s involvement in DJT have benefited at least one trader. ZachXBT noted that a large insider at DJT had dumped $832,000 worth of the token recently, with that account also holding significant amounts of Shoggoth, another cryptocurrency tied to Shkreli’s Shmartoggoth.ai project.

In conclusion, while Martin Shkreli’s claims of being the founder of DJT and partnering with Barron Trump remain unsubstantiated, the controversy has led to significant attention and price fluctuations for the token. As always, it is important to do your own research and exercise caution when investing in cryptocurrencies.