ZachXBT, an on-chain investigator, has revealed that Martin Shkreli, also known as “Pharma Bro,” is the mastermind behind the new Solana-based meme coin called TrumpCoin (DJT).
On June 19, Arkham Intelligence offered a $150,000 reward for anyone who could expose the creator of DJT. Shortly after, ZachXBT claimed that Shkreli is responsible for the meme coin after receiving a panicked message from him.
However, Shkreli, who previously served time in prison for securities fraud and was fined $70 million, asserts that Barron Trump, the 18-year-old son of former U.S. President Donald Trump, is also involved in the creation of the meme coin. Shkreli stated, “I did not act alone.”
Shkreli further revealed in a post that the keys to the token’s contract are in the possession of “Trump,” referring to Barron Trump. ZachXBT shared screenshots of Shkreli’s claims, which included over “1,000 pieces of evidence” proving Barron Trump’s participation in the deployment of the meme coin.
Additionally, during an X Spaces event on June 18, Shkreli asserted that the former U.S. President himself approved the project, and a total of 10 individuals were involved in its launch. Shkreli even mentioned that Trump has been discussing the potential listing of TrumpCoin with the Kraken crypto exchange.
Despite the controversy surrounding the meme coin, DJT has experienced a 29% surge in the past 24 hours and is currently trading at $0.015. Its market cap stands at $165 million, with a daily trading volume of $9 million.
However, the price volatility of TrumpCoin has raised concerns among investors as it sharply dropped from its all-time high of $0.038 on June 18.
There have been no official statements from the former U.S. President regarding the launch of an official meme coin at this time.