- Shkreli’s DJT involvement claim stirs controversy amid unclear ties to Donald Trump.
- GCR’s $100 million bet against Trump’s link to DJT challenges crypto community speculation.
As an analyst, I find the DJT memecoin saga to be a fascinating case study of speculation and bets within the crypto community. The involvement claim by Martin Shkreli and the subsequent large bet by GCR against Trump’s alleged ties to the token stirred quite a controversy.
There have been notable advancements surrounding the memcoin, DJT, built on the Solana [SOL] blockchain, which sparked speculation of a connection to former U.S. President Donald Trump due to its acronym matching his initials (DJT).
It’s intriguing that Martin Shkreli, who goes by the nickname “Pharma Bro,” asserted during a Twitter Spaces discussion that he played a role in developing the Solana token named DJT.
Series of bets on DJT’s original creator
As a curious crypto investor, I came across an intriguing post from X platform user Alice Wise. She boldly called out Martin Shkreli on social media, proposing a wager: if he would deposit $1 million into escrow, they could place their bets that the DJT token was a mere hoax.
Contributing to the ongoing discussion was the prominent cryptocurrency trader, recognized as GiganticRebirth or GCR for short, who last posted an update in November 2022.
I became convinced that the allegations against Trump regarding the token were unfounded and decided to put my faith and $100 million into the market by taking an opposing position.
As a researcher, I would clarify that I would deem the wager settled if Donald J. Trump personally announces that he created a meme coin himself.
In a different statement, GCR asserted that they had been contacted regarding joining the DJT initiative but chose not to participate. Contrarily, Shkreli insisted that no such approach had been made to GCR.
“Arkham, a blockchain analysis firm, entered the competition and offered a $150,000 incentive to anyone able to reveal the originator of the $DJT token.”
When scam survivor ZachXBT, who transformed into a 2D detective, revealed that he had submitted evidence to Arkham, the situation became clearer.
After making the announcement, Martin Shkreli directly messaged him, alleging that they had worked together on launching the token with Donald Trump Jr.
ZachXBT declared that he would no longer be able to assure the public about the Trump family’s endorsement of the token, and he presented proof to back up his claims.
As an analyst, I found it intriguing that just a day prior to Arkham’s announcement of their reward program, ZachXBT decided to delve deeper into the matter. His sharp eyes noticed an uncanny similarity between the DJT’s Telegram group and those associated with another cryptocurrency backed by Shkreli.
Impact on DJT coin
During that period, Shkreli maintained he had no connection to DJT, yet the contentious coin experienced an extraordinary increase in recognition. As reported by DEXScreener, this coin underwent a stunning rise of more than 200,000%.
I’ve noticed that DJT took a hit of 3.15% in the last 24 hours based on the most recent data. This dip has sparked interest among investors, with some speculating that it could be related to recent news surrounding Donald Trump.
In the midst of doubt, just 5% of these wagers attested to the genuineness of the token as of this composition, based on Polymarket’s data.
The final outcome
After much ado, I can now confirm that the solution to the bounty lies with @zachxbt, as I have come to discover.
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2024-06-20 14:15