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

The relatively new token created ripples in the crypto community on X this week over its supposed existence as the “official” Donald Trump token.

Disgraced former hedge fund manager Martin Shkreli has claimed responsibility for creating the DJT token, a cryptocurrency that has sparked speculation due to its supposed links to Donald Trump and his son Barron.

In a X space on Tuesday, attended by thousands of listeners, Shkreli confirmed his involvement in the token’s issuance, following days of denying any connection as blockchain sleuth ZachXBT and influential crypto trader Gigantic Rebirth (GCR) began searching for its creator.

"I have 1000 pieces of evidence I created it with Barron," Shkreli wrote to Zach in a direct message, which was posted by the latter.

The flavor-of-the-week token had several crypto enthusiasts wondering who was behind it after it went viral on Monday for its supposed links to Trump and his son Barron.

Blockchain sleuths found that DJT’s Telegram channel appeared to share the same admins as a token that was supported by Shkreli. At the time, Shkreli denied any involvement, and DJT continued to rally.

But things took a turn Tuesday night.

GCR, who had not replied to any X posts since November 2022, called out Trump’s supposed involvement in the token in his first post reply.

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

The bet was originally floated by Alex Wice, another influential and popular crypto trader, at a value of $1 million.

Shkreli appeared to provoke industry "whales," a colloquial term for a person with significant token holdings, in a post citing Wice’s – which drew GCR, a known Trump backer, out of the woodworks.

"The only way this is 'real,' is if Donald J Trump himself, says he launched a meme coin himself," wrote GCR. "I'm well aware there is a cabal strategy to bribe people in the Trump orbit to pretend they had something to do with this when in reality a cabal of crypto whales did a presale and allocation to KOLs."

In a separate post, GCR claimed to have been approached about being involved in the DJT project which he declined. Shkreli denied GCR was ever approached to be a part.

Meanwhile, in the hours following GCR’s post, on-chain intelligence firm Arkham posted a $150,000 bounty that would pay out the amount to whoever unveiled the creator of the DJT token.

This drew out Zach, one of the most widely followed crypto sleuth on X, to submit his findings to Arkham. Shkreli’s messages to Zach and his X spaces came subsequently afterward.

Now, Shkreli wants GCR to honor his side of the $100 million bet, having claimed that he co-created the token with Barron Trump’s involvement.

As such, the Trump campaign has not responded to CoinDesk’s request for comment on the topic since Monday, and as of Wednesday, Trump has posted nothing on his TruthSocial platform mentioning a token.

Meanwhile, at least one large holder in both DJT and Shoggoth.ai, Shkreli’s other project, has been profiting amid the drama.

Transactional data flagged by Zach shows one large DJT holder sold nearly $830,000 worth of DJT late Tuesday. The wallet, flagged by Zach, holds millions of dollars worth of SHOGGOTH tokens.

DJT tokens have taken a bit amid the drama, however, as prices are down 58% in the past 24 hours, DEXTools data shows.

(Adds Shkreli messages to Zach in third paragraph.)

News source：https://www.kdj.com/cryptocurrencies-news/articles/martin-shkreli-trumplinked-djt-zachxbt-gcr-start-poking.html

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