‘DJT’ Solana Token Surges on Unconfirmed Report Trump’s Behind It

As a researcher, I’ve come across an intriguing piece of information. The claim is that a presidential candidate from a major political party has launched their own cryptocurrency. If this proves to be true, it would represent a significant first in politics. However, as of the present moment, there’s no concrete evidence to back up this assertion.

According to recent reports, Trump is introducing an official token named $DJT on the Solana platform, as announced by Pirate Wires, a daring media outlet, on their X platform (previously known as Twitter).

As a researcher, I came across an intriguing piece of news where it was reported that Trump’s son Barron is leading the charge on a particular project. This publication, recognized for its incisive coverage of San Francisco Bay Area politics, irreverent tone, and sunny outlook on technology, shared this information.

As a researcher, I came across an intriguing post by Mike Solana, who holds the roles of CMO at Founders Fund and editor-in-chief of Pirate Wires. In response to one of their tweets, he publicly shared a smart contract address with the intention of increasing its exposure.

The token in that contract had a $177 million market capitalization at press time.

Later on, he explained that he hadn’t had a direct conversation with Trump himself. He also speculated that Trump might backtrack on his statements or even deny their accuracy.

“Merely passing on information from my reliable sources,” Mike Solana mentioned. (It’s a coincidence that his name shares similarities with the blockchain.)

At the time of publication, the Trump campaign declined to provide a statement regarding the matter. On his TruthSocial account, there was no mention of the topic in question as of yet.

As an analyst, I’ve observed that the crypto community’s response to the report was predominantly skeptical in tone. Among the voices expressing doubt was Ryan Selkis, the founder of Messari and a known supporter of Donald Trump. In his own words, he expressed his belief that there is an equal chance, roughly 50-50, that his favored candidate might be linked to the token under scrutiny.

In the prediction market on Polymarket, where cryptocurrency is used, bettors assigned a relatively low probability of 7% to the possibility that Trump would introduce a token by Friday.