The crypto world is buzzing with rumors about a new meme coin called TrumpCoin, also known as DJT. Allegations have surfaced that Barron Trump, with the approval of his father, Donald Trump, is behind this Solana-based memecoin. This claim has come from none other than Martin Shkreli, a controversial figure known as “Pharma Bro,” who recently spent over six years in prison for securities fraud.
Quick Take
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Shkreli claims Barron Trump launched TrumpCoin (DJT) with his father’s approval, and he holds the private keys to its smart contract.
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The Solana-based DJT token has surged in value, now worth $146 million, according to Birdseye data.
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Neither Barron Trump nor his representatives have issued any statements to confirm or deny Shkreli's claims.
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hkreli insists that DJT was approved by Donald Trump, and he claims to have proof of this approval.
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The crypto community remains skeptical, with Arkham Intelligence offering a $150,000 bounty to definitively identify the creator of DJT.
The DJT Token's Market Performance
Despite the lack of confirmation from the Trump camp, DJT has seen significant market activity. According to CoinGecko, the token is trading around $0.01, with a market cap of $112 million. Its rise has been attributed to speculative trading and the power of the Trump name, although many in the community remain wary of its legitimacy.
‘Pharma Bro’ Martin Shkreli's Involvement and Allegations
According to Shkreli, Barron Trump approached him in April to launch the token, which has since soared to an ATH (all-time high) valuation of $146 million, as reported by Birdseye data. However, neither Barron Trump nor his representatives have issued any public statements confirming or denying these claims.
In an X Spaces session hosted by Mario Nawfal, Shkreli detailed his involvement, stating he only provided advice and did not directly launch the token. He claimed Barron Trump holds the private keys to the smart contract and alleged that cryptocurrency influencer “Ansem” was also part of the project.
Shkreli's claims extend further, suggesting that Donald Trump not only knew about the DJT token but also approved it. He insisted he had “receipts” of Barron Trump indicating his father’s approval. During the session, Shkreli attempted to substantiate his claims by involving a teenager known as "Mongolian Prince," who corroborated that Barron Trump had the private keys.
Who Is Martin Shkreli?
Martin Shkreli, often dubbed "Pharma Bro," is a former pharmaceutical executive infamous for drastically raising the price of a life-saving drug. In 2017, he was convicted on two counts of securities fraud and one count of conspiracy, leading to over six years in prison and over $70 million in fines. His controversial past and flamboyant personality have made him a notorious figure, and his involvement in the DJT memecoin story has only added to his infamy.
Skepticism and Controversy Surrounding $DJT Memecoin
The crypto community's reaction has been mixed. Some believe Shkreli’s account, while others dismiss it as another one of his controversial stunts. Adam Cochran of Cinneamhain Ventures accused Shkreli of attempting to shift blame to Barron Trump to clear his own name. Shkreli’s past convictions for securities fraud add to the skepticism surrounding his claims.
Adding to the intrigue, Shkreli mentioned that Donald Trump had been in talks with the crypto exchange Kraken about potentially listing DJT. When contacted, Kraken did not provide an immediate response.
Claims and Denials
Martin Shkreli’s bold assertions have stirred the crypto world, but without concrete evidence, many remain unconvinced. While Shkreli claims to have proof of Barron Trump’s involvement, his past and the lack of a public statement from the Trumps cast doubt on the entire narrative.
A Celebrity Token or a Pump-and-Dump?
The DJT token’s sudden surge and the high-profile names associated with it have drawn comparisons to previous celebrity-endorsed crypto ventures, many of which ended in pump-and-dump schemes. The speculative nature of memecoins and the volatile history of tokens linked to famous personalities have led to caution among investors.
Conclusion
The story of TrumpCoin (DJT) and Martin Shkreli's involvement is filled with intrigue, claims, and counterclaims. While Shkreli insists on the legitimacy of the token and Barron Trump's role, the lack of concrete evidence and official statements leaves the truth in a gray area. As with many stories in the crypto world, only time will tell the true origins and future of DJT.
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