ZachXBT Discovers the Mastermind behind Trump-Themed DJT Token, Stands to Win $150K Prize
By Jimmy Aki
Updated: June 19, 2024, 16:45 EDT | Reading Time: 2 minutes
After much speculation, it appears that the mystery surrounding the popular Trump-themed DJT token on Solana has been solved. Blockchain investigator ZachXBT has revealed that controversial entrepreneur Martin Shkreli has come forward as one of the creators of the project.
In a post on X, ZachXBT disclosed that Shkreli personally messaged him, claiming to possess over 1,000 pieces of evidence that prove he co-created DJT alongside an individual named “Barron,” likely referring to Barron Trump, the youngest son of Donald Trump.
Shkreli’s announcement came shortly after ZachXBT publicly applied for the $150,000 bounty offered by blockchain data platform Arkham to identify the true creator of DJT. The DJT token, featuring imagery of former U.S. President Donald Trump, had gained immense popularity and caused speculation about its origins.
ZachXBT presented additional on-chain evidence that allegedly links Shkreli to DJT. He highlighted a wallet that held a significant amount of DJT tokens and sold off $832,000 worth of tokens for the USDC stablecoin. Notably, this same wallet also contained tokens from Shkreli’s Shoggoth.ai project.
Prior to his revelation, Shkreli had claimed that DJT was the official cryptocurrency of the Trump campaign. He even made a wager with a pseudonymous crypto expert regarding the authenticity and origin of the token.
The Trump campaign has remained silent regarding the DJT token and Shkreli’s alleged involvement. Shkreli, a former pharmaceutical executive, was convicted of securities fraud in 2017.
The DJT token garnered widespread attention and speculation on Twitter due to its Trump-themed branding and rumors of a possible connection to the former president’s family. The intrigue intensified when Arkham Intelligence offered a $150,000 bounty to anyone who could identify the creator of DJT.
On decentralized betting platforms like Polymarket, nearly $1.9 million worth of bets were placed on whether DJT had a genuine affiliation with Trump or his family members. Prior to Shkreli’s revelation, only 17% of bets favored a “real” connection.
During the frenzy, the price of the DJT token surged over 300%, with a trading volume exceeding $472 million, driven by the unconfirmed reports of Trump’s involvement. However, the token’s value dropped by 66% within 24 hours as the speculation cooled.
In an X Spaces session on June 18, just hours after Arkham’s bounty announcement, Shkreli revealed that he was among approximately ten people directly involved in creating DJT, with 40 to 50 others being aware of the project. According to reports, Shkreli mentioned Barron Trump as one of the key figures, which likely fueled the initial rumors.
ZachXBT, who submitted evidence for Arkham’s bounty, suggested that his submission prompted Shkreli’s decision to host the revealing X Spaces session.
Overall, if ZachXBT’s $150,000 bounty claim is verified, it could bring more clarity to the creators of DJT.
