Martin Shkreli Claims Involvement in $DJT Token Amid 50% Drop and $100M Bet on Trump Link

Jun 19, 2024, 09:57 AM

The cryptocurrency market has been roiled by the launch of a new token, $DJT, allegedly linked to former U.S. President Donald Trump. The token, which operates on the Solana blockchain, experienced significant volatility, with its market cap reaching $375 million at its peak before falling by 50%. $DJT's current market cap stands at $268 million. Rumors about the token's legitimacy have been fueled by Martin Shkreli, who claims to have co-created it with Barron Trump. Shkreli's involvement has led to skepticism, with some insiders making substantial profits from early trades. One insider spent $188,000 to buy $DJT before the news broke. A notable bet has emerged, with GCR wagering $100 million that the token is not officially endorsed by Trump. Additionally, Arkham Intelligence has offered a $150,000 bounty for proof of the token's creator. The situation remains fluid as the market responds to these developments.