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Martin Shkreli, Barron Trump and Andrew Tate would be involved in the symbolic drama of Donald Trump
Early this morning, Arkham announced a $150,000 reward for the identity of the creator of the DJT token. This announcement started a chain of events that culminated in Martin Shkreli, the infamous pharmaceutical executive, declaring himself the creator of the token. The incident caused a stir in the crypto community, attracting various interested parties and prompting a series of revealing interactions on social media.
At 11:49 PM UTC, ZachXBT, a well-known figure in the cryptocurrency investigative space, he answered at the Arkham bounty announcement claiming to have provided information for the reward.
“For those who are confused and need additional context.
Today Arkham announced a $150,000 bounty for the identity of DJT’s creator
11.49pm UTC Replying to Arkham saying I showed up for the bounty.
Martin Shkreli enters the scene
A few minutes later, at 11:57 pm UTC, Martin Shkreli, known for his controversial business practices, sent a “panic” direct message to ZachXBT. At 00:27 UTC, Shkreli had created a Twitter space where he announced that he was the creator of DJT.
“23:57 UTC Martin Shkreli panic DM it’s me 00:27 UTC Martin Shkreli creates a space and announces that he is the creator of DJT.”
Significant trading activity was observed following Shkreli’s announcement. One of DJT’s largest insiders, identified as Verso.sol, downloaded $832,000 worth of DJT and deposited USDC into a centralized exchange (CEX) about an hour before the announcement. Coincidentally, this insider was also a major holder of another Shkreli-associated project, Shoggoth.
“One of the biggest DJT insiders towards.sol downloaded $832,000 worth of DJT and then deposited USDC on CEX about 1 hour ago
Coincidentally also a great owner of Martin’s other project, Shoggoth”
Legal implications and reactions
Adam Cochran, partner at CEHV, weighed about Shkreli’s potential legal consequences. According to Cochran, the terms of Shkreli’s parole require him to provide complete financial statements and avoid any self-employment involving clients’ money or investments. Cochran suggested that Shkreli could go to prison for fraud or for violating his parole by running an investment opportunity.
“Shkreli’s 3-year parole terms require him to provide complete financial statements and avoid ‘any self-employment involving access to clients’ money or investments’ (as well as avoiding other crimes).
So either he goes to prison for fraud, or he ran an investment opportunity on behalf of Barron and goes to prison for violating the terms of his probation.”
Cochran also speculated on whether Shkreli included his KuCoin offshore account, which financed the DJT coin, in his court financial reports.
“More importantly, do you think he includes his offshore Kucoin account (with which he financed this coin) in his financial reports to the courts?”
Cochran noted that the terms of his parole could have been updated, but “since the term is three years from release in 2022, it would still be active.”
Shkreli’s response
Shkreli fired concerns with a sarcastic response, downplaying the issue of insider trading and the fairness of the token launch.
“literally no problem, what’s the problem?
can some people anticipate the launch of new tokens? THERE IS NO WAY!!!!!!!!!!!!!!!! Break ’em, Zach!
In another tweet he criticized the contradiction of the accusations.
“You can’t have it both ways or it doesn’t exist or there was an unfair rollout.”
This saga has left the crypto community in a state of intrigue and concern. The revelation of Shkreli’s involvement, subsequent insider trading activities, and potential legal consequences paint a complex picture of the DJT token launch. As the situation evolves, both stakeholders and observers are closely monitoring further developments.
A send by Arnold Bernault jokingly implies that despite the involvement of high-profile individuals such as Barron Trump, Andrew Tate, and Martin Shkreli in the creation of the DJT token, they first considered consulting Ansem.
Tate and Ansem, a cryptocurrency trader, are engaged in a heated feud over Tate’s alleged manipulation of cryptocurrencies. Their fight turned into a bet on a $10 million boxing match, with the loser donating the amount to the winner’s chosen cryptocurrency. The high-stakes match, scheduled for December 6 in Dubai, has sparked controversy within the crypto community, drawing attention to the clash between these two influential figures.
“It’s crazy that Barron Trump, Andrew Tate, and Martin Shkreli were all involved in the creation of this token, and no one stopped once to consider whether they should consult Ansem first.”
Shkreli responded with confirming who consulted Ansem, adding a layer of irony and sarcasm to the ongoing narrative.
“we did it, actually”
Whether this will lead to legal repercussions for Shkreli remains to be seen.