Martin Shkreli Says He is Behind Trump-Linked DJT as ZachXBT, GCR Start Poking Around

As an analyst with a background in blockchain and crypto, I find Martin Shkreli’s recent revelation that he was behind the controversial DJT token together with Barron Trump quite intriguing. Initially, there were doubts about Trump’s involvement due to various pieces of evidence linking Shkreli to the token, such as shared Telegram channel admins and Shkreli’s provocative actions on social media.

As a researcher investigating the cryptic world of digital currencies, I came across Martin “Pharma Bro” Shkreli’s recent declaration that he was indeed the mastermind behind the DJT token, an X coin garnering significant attention from thousands. This admission followed his earlier denials, amidst growing speculation fueled by influential accounts such as GiganticRebirth and ZachXBT.

“Shkreli admitted on multiple occasions that he was involved in creating the 1000 pieces of evidence using Barron.”

Some cryptocurrency fans were left pondering the identity of the popular new token’s creators after it gained significant attention on Monday, due to rumored connections to former President Donald Trump and his son Barron.

As a cryptocurrency investigator, I came across intriguing findings from blockchain sleuths. They revealed that the Telegram channel associated with “DJT” seemed to have overlapping admins with a token backed by Martin Shkreli. Initially, Shkreli denied any connection, while DJT’s community remained enthusiastic.

But things took a turn Tuesday night.

In a recent post on the cryptocurrency platform, an anonymous and highly regarded trader under the alias GiganticRebirth, or GCR, accused Donald Trump of having connections to a specific token, marking their first comment since November 2022.

He put up $100 million (not a typo) in a bet against Trump having to do anything with the project.

I analyzed a notable bet initiated by Alex Wice, a well-known and influential crypto trader, valued at one million dollars initially. This proposition sparked reactions from industry heavyweights, commonly referred to as “whales” due to their substantial token holdings. Among them was GCR, who is recognized for his association with former U.S. President Donald Trump. In response to Wice’s post, GCR emerged publicly.

As a crypto investor, I understand GCR’s skepticism regarding claims about Donald J. Trump launching a meme coin. In my perspective, such assertions hold little weight unless Trump himself confirms it. I am aware that there have been reports of individuals in Trump’s circle being approached to falsely claim involvement in this project. However, based on my analysis and experience in the crypto space, I strongly believe that a cabal of influential crypto whales likely carried out a private sale and allocation to Key Opinion Leaders (KOLs) before the coin was made public.

In a different statement, GCR asserted that they had been contacted regarding the DJT initiative but chose not to participate. Contrarily, Shkreli insisted that no such approach had been made to GCR.

In the wake of GCR’s announcement, Arkham, a leading on-chain intelligence company, offered a reward of $150,000 to anyone who could identify the maker of the DJT token.

As a cryptocurrency analyst, I was closely monitoring the developments on platform X when I came across some intriguing findings that demanded further investigation. Eager to share my discoveries with the community, I decided to submit my report to Arkham. Shortly thereafter, I received messages from notorious figure Martin Shkreli, as well as his circles on X.

Shkreli is insisting that GCR uphold their end of a $100 million wager, as he maintains that he and Donald Trump jointly developed the token, according to his assertions.

The Trump campaign hasn’t replied to CoinDesk’s inquiry regarding this matter since Monday, and up until Wednesday, Donald Trump hadn’t made any posts about a potential token on his TruthSocial platform.

During the commotion surrounding DJT and Shoggoth.ai, at least one significant investor in each company has seen gains.

According to the transaction data analyzed by ZachXBT, an individual holding approximately $830,000 in DJT tokens made a large sale of that cryptocurrency on Tuesday. Notably, this wallet is also rich in SHOGGOTH tokens, amounting to millions of dollars’ worth.

I’ve noticed a significant downturn in the value of DJT tokens lately, with prices dropping a steep 58% over the last 24 hours according to DEXTools data.