QuickTake:

• Blockchain investigator ZachXBT reveals Martin Shkreli’s claim of co-creating the DJT meme token.
• Shkreli asserts he has substantial evidence linking him to the token’s creation.
• Donald Trump’s campaign has yet to comment on the DJT token.

In a surprising turn of events, Martin Shkreli, the infamous entrepreneur known as “Pharma Bro,” has claimed to have co-created the DJT token, a Solana-based cryptocurrency themed around former President Donald Trump. This revelation comes from blockchain sleuth ZachXBT, who shared the details on X (formerly Twitter).

ZachXBT disclosed that Shkreli, who was convicted of securities fraud, privately messaged him on X, claiming to possess “over 1,000 pieces of evidence” proving his involvement in the creation of the DJT token alongside Barron, presumably referring to Barron Trump. Shortly after this private message, Shkreli publicly announced on an X Spaces session that he was behind the DJT token.

This claim emerged after ZachXBT publicly accepted a $150,000 bounty from blockchain data platform Arkham, which promised the reward to anyone who could definitively identify the creator of the viral token. The announcement has sparked a flurry of speculation and intrigue within the crypto community.

To support Shkreli’s claim, ZachXBT presented blockchain transaction data indicating that a significant holder of DJT tokens sold off $832,000 worth of the tokens in exchange for USDC stablecoin. The same wallet also contained a substantial number of tokens from Shkreli’s project, Shoggoth.ai, further linking Shkreli to the DJT token.

Before his public declaration on X Spaces, Shkreli had been asserting that DJT is the official token associated with the Trump campaign. He even set up a $100 million bet with pseudonymous crypto trader GCR, wagering that the token was indeed authentic.

The DJT token’s value experienced a dramatic surge of over 300% earlier in the week, spurred by an unverified report from PirateWire that claimed Donald Trump himself had launched the token. The token’s trading volume soared past $472 million during this period. However, this spike was followed by a significant decline, with the token’s value dropping 33% in the past 24 hours to $0.01306, according to GeckoTerminal data.

Despite the flurry of activity and speculation, the Trump campaign has not yet responded to requests for comments from The Block.

The connection between Shkreli and the DJT token adds a layer of complexity to an already intriguing story. Shkreli’s controversial past, which includes his notoriety for drastically increasing the price of a life-saving drug and his subsequent conviction for securities fraud, has made him a polarizing figure. His involvement in the DJT token’s creation raises questions about the motives and authenticity behind the token.

ZachXBT’s role in uncovering Shkreli’s claim has been pivotal. As a well-known blockchain investigator, his findings carry significant weight within the crypto community. The evidence he presented, including the blockchain transaction data linking Shkreli’s wallet to DJT, provides a substantial basis for Shkreli’s claim, though it remains to be seen whether this will be universally accepted or verified by other sources.

The broader implications of this revelation are still unfolding. If Shkreli’s claims are substantiated, it could impact the perceived legitimacy of the DJT token and its association with the Trump campaign. Additionally, it could influence the regulatory scrutiny and market dynamics surrounding the token.

As the story develops, the crypto community will be closely monitoring any further announcements from both Shkreli and the Trump campaign. The identity of the DJT token’s creator, the token’s future performance, and the potential regulatory responses will be key areas of focus.

In conclusion, Martin Shkreli’s claim of co-creating the DJT token has added a new layer of intrigue to the already controversial cryptocurrency. The evidence presented by ZachXBT, combined with Shkreli’s public statements, suggests a complex web of involvement that may have far-reaching implications for the token and the broader crypto market. As the investigation continues and more information emerges, the crypto community will be eagerly awaiting further developments in this unfolding saga.

4o