'Pharma bro' Martin Shkreli said that he led Donald and Barron Trump on the creation of the DJT cryptocurrency token, which is now worth tens of millions of dollars.
The mysterious coin has skyrocketed in recent days, fueling conjecture over whether or not the crypto has the Trump family's endorsement.
DJT TrumpCoin Value Surges
Shkreli, convicted of securities fraud in 2017 for increasing the price of a life-saving drug, claimed that he was first approached by an acquaintance of Barron Trump regarding the creation of a coin. This coin has been given the name DJT TrumpCoin.
According to the New York Post, the value of DJT TrumpCoin soared by an astonishing 385% in just 24 hours on Tuesday (June 18), fueled by rumors of potential connections with the 45th president. This surge in value led to a massive trading volume of $363 million.
The token known as "Trump Coin" was initially discovered by Fox Business on Monday (June 17) when it was officially registered on the Solana blockchain platform.
During the X exchange, Shkreli consistently claimed to possess evidence implicating Barron Trump in the project, which reportedly employed up to 50 individuals.
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Martin Shrekli Links Barron Trump to DJT Cryptocurrency Creation
Shkreli initially informed online crypto investigator ZachXBT about his collaboration with the youngest son of Donald Trump to introduce the coin.
However, Shkreli has not yet released any evidence connecting Barron Trump to the coin he allegedly possesses.
Internet investigators had attempted to reveal the identity of the DJT token's creator following a generous reward offered by blockchain company Arkham Intelligence. The company promised a hefty sum of $150,000 to anyone who could successfully uncover the mystery.
It remains unclear whether Donald Trump, the presumptive Republican nominee for this year's race for the White House, has any connection to the coin that features the same DJT symbol as his social media platform, Truth Social.
The DJT coin's surge coincides with a decline in investor confidence in parent company Trump Media. The company's stock dropped by 15% when trading commenced on the Nasdaq, reaching approximately $27 per share.
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