Clearing up the Trump-themed MEME coin DJT farce in one article

Author: Protos

Compiled by: Deep Tide TechFlow

In the past few days, a chaotic event involving Barron Trump, the Trump family, Peter Thiel, Martin Shkreli, Arkham, and many other participants has swept Crypto Twitter.

Here is the summary of the whole event.

Fuse

Initially, a 'new media' platform related to Peter Thiel, Pirate Wires, tweeted: 'According to 'some conversations,' Barron Trump, son of Donald Trump, will lead the official Donald Trump token.' This news has aroused suspicion and speculation because the only evidence at present is a contract address casually added by Michael Solana, the head of Pirate Wires.

Due to the low liquidity of the token at that time, after the contract address was released, people's doubts about the authenticity of the project increased rather than decreased.

Later, Martin Shkreli joined the farce, tweeting that a certain Twitter account "looks like an official account," but still did not provide any convincing evidence.

Then Martin Shkreli created a space called "$DJT is real", once again claiming that the token was the official Trump coin launched by Barron Trump, but still did not provide any evidence.

The truth is gradually emerging

Soon after, many KOL accounts began spreading the news that the official token of Donald Trump, $DJT, is indeed real.

Later, Martin Shkreli and Bo Loudon (one of Barron Trump's best friends) joined another Space, where Bo Loudon said, "Barron did indeed partly participate in this project," but he quickly changed his tune to say, "This is a rumor, I heard it from another friend."

Then Bo Loudon deleted his tweet that said "$DJT is the only real Trump token".

Martin Shkreli became more active on Twitter amid the slump of sentiment over $DJT, tweeting that Polymarket's prediction market bet on "whether Trump himself is involved in DJT" would be "yes by definition."

Very soon, Martin Shkreli's tweets and discussions almost all revolved around DJT Token.

Feeling lucky?

Martin Shkreli publicly claimed that the Trump family is involved in DJT tokens and proposed a bet that he is willing to bet against anyone with the strength to bet on this meme coin $DJT. Cryptocurrency investor Alex Wice later said that if Martin Shkreli can host the funds, he is willing to bet $1 million that $DJT is fake. Martin Shkreli said, 'Accepting bets, how high can you bid?'

But before this bet was made, a bigger whale intervened in the bet: legendary trader GCR proposed to bet $100 million with Martin Shkreli that Donald Trump had nothing to do with the token. In the end, Martin Shkreli agreed to this bet and replied, 'As you wish.'

However, even with the involvement of well-known cryptocurrency figures like Jordan Fish (@cobie), GCR and Martin Shkreli failed to reach a betting protocol agreement, with no funds being escrowed, no formal bet, and thus no final outcome.

Talking about it, it's all empty talk

The fact that the bet was not ultimately made did not prevent Martin Shkreli from claiming victory in the bet and celebrating his 'victory' by stating that GCR had exited. However, just as he was celebrating this false victory, on-chain information tracking company Arkham tweeted that it was offering a $150,000 reward to the first person who could definitively prove the creator of the $DJT token.

In less than two hours, on-chain detective ZachXBT applied for a bounty for this bounty, which seems to have caused some alarm for Martin Shkreli.

According to ZachXBT's timeline, after he explicitly raised the bounty claim, Martin Shkreli panicked and directly private messaged ZachXBT claiming he was involved in the creation of $DJT.

Later, Martin Shkreli held another Space and publicly admitted for the first time that he was involved in and created $DJT.

The Starting Point of Farce

Without receiving $100 million and being embarrassingly exposed as the token founder, and after tearing down the banner of 'Trump family support', Martin Shkreli once again spoke out on Twitter, spending nearly half a day desperately trying to convince anyone willing to listen that he did indeed create this token with Barron Trump.

If Martin Shkreli's words are really credible, then the whole story goes like this:

Martin Shkreli collaborated with a 17-year-old named Cameron, who is connected to Bo Louden and Barron Trump. It was reported that Cameron contacted Barron and heard that Barron was interested in launching a Meme coin before his brother Donald Trump Jr. They asked for Martin Shkreli's help.

Martin Shkreli used Chat-GPT and discussed with many influential figures in the Crypto community on how to create sound financial incentives and mechanisms. Martin Shkreli wrote the code for this Token, which was ultimately launched by Barron Trump.

This token has been dormant for a while as the three people involved are trying to convince many funds and investors to invest in this project. Martin Shkreli said it's hard to get anyone to commit to investing, but also said Barron Trump told him that Donald Trump himself supports the concept.

Martin Shkreli insists that he had little motive to participate, hardly purchased any tokens, absolutely would not exploit those seventeen or eighteen-year-old teenagers, and never hoped for his involvement to be revealed.

Although these words may be true, it is hard to believe that Martin Shkreli himself never wanted to be exposed for his involvement in the project, after all, he has always been firm about the authenticity of this Token from the beginning and has repeatedly hinted that he has spoken to insiders.

Martin Shkreli also claimed that the project information was initially leaked to Pirate Wire by Barron Trump. However, he also stated that the information was leaked earlier than they had expected, and the project was not ready to go live yet.

As of the end of yesterday, Martin Shkreli himself was no longer sure whether Barron Trump would publicly confirm his involvement, and he "hesitantly claimed that Donald Trump would talk about this token.