Martin Shkreli, Barron Trump and Andrew Tate allegedly involved in Donald Trump token drama Martin Shkreli, Barron Trump and Andrew Tate allegedly involved in Donald Trump token drama
Martin Shkreli claims to be the creator of DJT token amidst controversy
3 min read
Updated: Jul. 10, 2024 at 12:54 pm UTC
Gage Skidmore / CC BY-SA 2.0 / Wikimedia. Remixed by CryptoSlate
Earlier today, Arkham announced a $150,000 bounty for the identity of the DJT token creator. This announcement set off a chain of events culminating in Martin Shkreli, the infamous pharmaceutical executive, declaring himself as the token’s creator. The incident has caused a stir in the crypto community, drawing in various stakeholders and prompting a series of revealing interactions on social media.
At 11:49 P.M. UTC, ZachXBT, a well-known figure in the crypto investigative space, responded to Arkham’s bounty announcement by stating that he had submitted information for the reward.
“For those who are confused and need additional context.
Earlier today Arkham announced a $150K bounty for the identity of the DJT creator
11:49 pm UTC I reply to Arkham saying I submitted for the bounty.”
Martin Shkreli Enters the Scene
A few minutes later, at 11:57 P.M. UTC, Martin Shkreli, famously known for his controversial business practices, sent a “panic” direct message to ZachXBT. By 12:27 A.M. UTC, Shkreli had created a Twitter Space where he announced that he was the creator of DJT.
“11:57 pm UTC Martin Shkreli panic DM’s me 12:27 am UTC Martin Shkreli creates a spaces and announces he is the creator of DJT.”
Significant trading activity was observed in the wake of Shkreli’s announcement. One of the large DJT insiders, identified as verso.sol, dumped $832,000 worth of DJT and deposited USDC to a centralized exchange (CEX) about an hour before the announcement. Coincidentally, this insider was also a large holder in another project associated with Shkreli, Shoggoth.
“One of the large DJT insiders verso.sol dumping $832K worth of DJT and then depositing USDC to CEX ~1 hr ago
Coincidentally also a large holder on Martin’s other project Shoggoth”
Legal Implications and Reactions
Adam Cochran, a partner at CEHV, weighed in on Shkreli’s potential legal ramifications. According to Cochran, Shkreli’s parole terms require him to provide full financial statements and avoid any self-employment involving client money or investments. Cochran suggested that Shkreli might face jail time for fraud or violating his parole by managing an investment opportunity.
“Shkreli’s 3-year parole terms require him to give full financial statements, and to avoid ‘any self-employment involving access to client money or investments’ (as well as avoiding other crimes).
So either he goes to jail for fraud, or he managed an investment opportunity on behalf of Barron and goes to jail for violating terms of parole.”
Cochran further speculated whether Shkreli included his offshore KuCoin account, which funded the DJT coin, in his court financial reports.
“But most importantly, do you think he includes his offshore Kucoin account (which he funded this coin with) on his financial reports to the courts?”
Cochran noted that his parole terms could have been updated, but “since the term is three years from release in 2022, it’d still be active.”
Shkreli’s Response
Shkreli dismissed the concerns with a sarcastic reply, downplaying the issue of insider trading and the fairness of the token launch.
“literally non issue what is the problem?
some people get a jump on the launch of new tokens? NO WAY!!!!!!!!!!!!!!!! bust em, zach!”
In another tweet, he criticized the contradiction in the accusations.
“you can’t have it both ways either it doesn’t exist or there was an unfair launch.”
This saga has left the crypto community in a state of intrigue and concern. The revelation of Shkreli’s involvement, the subsequent insider trading activities, and the potential legal consequences paint a complex picture of the DJT token’s launch. As the situation unfolds, stakeholders and observers alike are keenly watching for further developments.
A post by Arnold Bernault humorously implies that despite the involvement of high-profile individuals like Barron Trump, Andrew Tate, and Martin Shkreli in creating the DJT token, they did consider consulting Ansem first.
Tate and Ansem, a crypto trader, engaged in a heated feud over Tate’s alleged crypto manipulation. Their clash escalated into a $10 million boxing match bet, with the loser donating the amount to the winner’s chosen crypto. The high-stakes match, scheduled for Dec. 6 in Dubai, has stirred controversy within the crypto community, attracting attention to the clash between these two influential figures.
“that’s crazy that barron trump, Andrew tate, and Martin shkreli were all involved in creating this token, and not once did anybody stop to consider whether they should consult ansem first.”
Shkreli responded by confirming that they consulted Ansem, adding a layer of irony and sarcasm to the ongoing narrative.
“we did, actually”
Whether this will lead to legal repercussions for Shkreli remains to be seen.
Author 
Liam 'Akiba' Wright
Also known as "Akiba," Liam Wright is a reporter, podcast producer, and Editor-in-Chief at CryptoSlate. He believes that decentralized technology has the potential to make widespread positive change.
