Clarifying the Trumpthemed MEME coin DJT farce in one article

Author: Protos
Compiled by: Deep Tide TechFlow


Over the past few days, a chaotic event involving Barron Trump, the Trump family, Peter Thiel, Martin Shkreli, Arkham, and many other participants has taken over Crypto Twitter.
Here is the breakdown of the entire event. The Spark
Initially, a “new media” platform Pirate Wires, claimed that “according to ‘some conversations’, Barron Trump, will host the official Donald Trump token”. This news raised suspicion and speculation because the only evidence was a contract address casually added by Pirate Wires’ Michael Solana.
Due to the low liquidity of the token, doubts about the project’s authenticity grew after the contract address was released.
Martin Shkreli then joined the chaos, claiming that a Twitter account “looks like an official account”, but provided no convincing evidence.
Then Martin Shkreli created a Space called “$DJT is real” and again claimed that the token was the official Trump coin launched by Barron Trump, but still no evidence was provided. The Truth Emerges
Soon after, many KOL accounts began spreading the news that the official Trump token $DJT was indeed real.
Then, Martin Shkreli and Bo Loudon (one of Barron Trump’s best friends) joined another Space. In the Space, Bo Loudon said “Barron was indeed involved in this project” but he quickly changed his story to “this is a rumor, I heard it from another friend.”
Then Bo Loudon deleted his tweet stating “$DJT is the only real Trump token”.
With public sentiment towards $DJT sliding, Martin Shkreli became more active on Twitter. He tweeted that Polymarket’s prediction market on whether “Trump himself is involved with DJT” would by definition be 100% judged “yes”.
Soon, Martin Shkreli’s tweets and discussions were almost all about the DJT token. A Bet of Sorts?
After publicly claiming the Trump family’s involvement in the DJT token, Martin Shkreli then proposed a bet, stating that he was willing to bet against anyone with power on whether $DJT, this Meme coin, was fake. Cryptocurrency investor Alex Wice said that if Martin Shkreli could host the funds, he would bet $1 million that $DJT was fake. Martin Shkreli said: “Accept the bet, how high can you bid?”
But before this bet was established, a bigger whale entered the bet: legendary trader GCR offered to bet $100 million with Martin Shkreli that Donald Trump was not related to the token. Martin Shkreli then agreed to the bet and replied: “Set it up your way.”
However, even when it came down to well-known cryptocurrency figures like Jordan Fish (@cobie), GCR and Martin Shkreli failed to reach an agreement on the bet, no funds were held, no formal bet was made, and there was no final win or loss. All talk and no action
The bet ultimately did not happen, but that did not stop Martin Shkreli from claiming that he had won the bet and celebrating the “victory,” claiming that GCR had dropped out. But as he celebrated this false victory, the blockchain analytics company Arkham tweeted that they would offer a $150,000 reward to the first person who could conclusively prove the creator of the $DJT token.
In less than two hours, blockchain detective ZachXBT applied for the reward, which seemed to make Martin Shkreli somewhat panicked.
According to ZachXBT’s timeline, after he explicitly applied for the reward, Martin Shkreli panicked and directly messaged ZachXBT claiming that 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 creating $DJT. The Beginning of the Drama
Without receiving $100 million and being exposed as the token’s creator in a very embarrassing manner, and with the “Trump family support” banner being taken down, Martin Shkreli once again took to Twitter, spending nearly half a day in multiple Spaces trying to convince anyone willing to listen that he did indeed create this token with Barron Trump.
If Martin Shkreli’s words are to be believed, then the story goes like this: Martin Shkreli worked with a 17-year-old named Cameron, who had connections to Bo Louden and Barron Trump. It is said that Cameron contacted Barron and heard that Barron was interested in launching a Meme coin before his brother Donald Trump, Jr. Martin Shkreli was asked for help.
Martin Shkreli used Chat-GPT and discussed with many influential people in Crypto how to create good financial incentives and mechanisms. He wrote the code for the token, and Barron Trump finally launched it.
The token remained silent for a while, as the three people involved tried to convince many funds and investors to invest in the project. Martin Shkreli stated that it was difficult to get anyone to commit to investment but also said that Barron Trump told him that Donald Trump himself supported the concept.
Martin Shkreli firmly stated that he had little motivation to get involved and hardly bought any tokens. He claimed that he would never take advantage of teenagers and never wanted his involvement to be revealed.
While these words may be true, it is hard to believe that Martin Shkreli himself never wanted his involvement in this project to be revealed, especially since he was firm about the authenticity of the token from the start and repeatedly hinted that he had talked to insiders.
Martin Shkreli also claimed that Barron Trump was the one who leaked the project’s information to Pirate Wire. But he also said that the information was leaked earlier than expected, and the project was not ready to go live yet.
As of yesterday, Martin Shkreli himself was no longer sure whether Barron Trump would publicly confirm his involvement and “hesitantly claimed that Donald Trump would talk about this token.”