On-chain sleuth ZachXBT exposed Martin Shkreli, popularly 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 exposing DJT distributors. Hours later, ZachXBT claims Shkreli is the creator of the meme coin after he sent a “panic” message to on-chain investigators.
However, Shkreli, who was sentenced to about seven years in prison and a $70 million fine for securities fraud, claims that former US President Donald Trump’s son Barron Trump, 18, was also involved in the meme coin. He added:
“I did not act alone.”
Moreover, Shkreli pointed to Barron Trump in his X post, saying the key to the token contract is with “Trump.” A screenshot shared by ZachXBT shows Shkreli claiming there is “over 1,000 pieces of evidence” proving the 18-year-old Trump’s involvement in distributing the meme coins.
Shkreli also claimed at X Spaces on June 18 that the former US president had also approved the project and that a total of 10 people were involved in its launch. He even claimed that Trump was discussing a potential listing of TrumpCoin with the Kraken cryptocurrency exchange.
Despite the drama surrounding the meme coin, DJT has surged 29% in the last 24 hours and is trading at $0.015 at the time of this writing. The asset’s market capitalization currently stands at $165 million, with a daily trading volume of $9 million.
However, the meme coin’s price fluctuations have some investors concerned, with TrumpCoin plummeting from its all-time high of $0.038 on June 18.
There is still no update from the former US president regarding the official meme coin launch.