On-chain firm ZachXBT has revealed Martin Shkreli, widely known as “Pharma Bro,” as the creator of a new Solana-based meme coin, called TrumpCoin (DJT).
On June 19, Arkham Intelligence announced a $150,000 reward for uncovering DJT's distributor. A few hours later, ZachXBT claimed that Shkreli was the creator of the meme after he sent a “panic” message to the on-chain verifier.
However, Shkreli, who served nearly seven years in prison with a $70 million fine for committing securities fraud, claims that former US President Donald Trump's son, 18-year-old Barron Trump, is also involved in the meme currency. he He added:
“I did not act alone.”
Furthermore, Shkreli said in X’s post that the keys to the token contract are with “Trump” – referring to Barron Trump. Screenshots shared by ZachXBT show Shkreli claiming to have more than “1,000 pieces of evidence” implicating the 18-year-old Trump in spreading the meme.
Additionally, at X Spaces on June 18, Shkreli claimed that the former US president also approved the project and that a total of 10 people participated in its launch. He even claimed that Trump was discussing the potential listing of TrumpCoin with cryptocurrency exchange Kraken.
Despite the drama surrounding the meme coin, DJT is up 29% over the past 24 hours and is trading at $0.015 at the time of writing. The asset's market cap currently stands at $165 million with a daily trading volume of $9 million.
However, the meme's price action has worried some investors as Trump Coin saw a sharp decline from its all-time high of $0.038 on June 18.
There have been no updates from the former US President regarding the launch of the official meme currency yet.