Martin Shkreli Admits He Created the Controversial DJT Token, Now Demands $100M Bet From GiganticRebirth

Martin “Pharma Bro” Shkreli revealed on Tuesday that he was behind the controversial DJT token during an X space discussion, just days after denying any involvement.

Pharmaceutical executive-turned-crypto enthusiast Martin Shkreli has admitted to creating the DJT token, named after former US President Donald Trump, during an X space discussion on Tuesday.

This comes after he initially denied any involvement in the project, following a search by crypto influencers to uncover the token's creator.

"I have 1000 pieces of evidence I created it with Barron," Shkreli wrote to blockchain investigator ZachXBT in a direct message, which ZachXBT later posted.

Shkreli then confirmed his involvement in his X spaces podcast soon after.

Blockchain sleuths had linked the DJT token's Telegram channel to a token previously supported by Shkreli. Despite his initial denials, the DJT token continued to gain traction.

The situation escalated on Tuesday night when influential anonymous crypto trader GiganticRebirth (GCR) took aim at the token's supposed connection to Trump.

In his first X post reply since November 2022, GCR placed a $100 million bet against Trump's involvement in the project. This bet was initially proposed by another crypto trader, Alex Wice, for $1 million.

GCR expressed skepticism about the token's origins, suggesting that a group of large crypto investors, or "whales," were behind the project and attempted to bribe people in Trump's circle to lend credibility to the token.

GCR claimed he was approached to participate in the DJT project but passed on the opportunity. Shkreli has denied these claims.

Following GCR's post, on-chain intelligence firm Arkham offered a $150,000 bounty for identifying the DJT token's creator.

ZachXBT submitted his findings to Arkham, which led to Shkreli's admission of involvement.

Shkreli now insists that GCR pay his $100 million bet, given his co-creation of the token with Barron Trump's supposed involvement.

As of Wednesday, the Trump campaign has not commented on the matter, and Trump has not mentioned the token on his TruthSocial platform.

In the wake of these revelations, at least one large DJT and Shoggoth.ai token holder has seen substantial gains.

Transactional data flagged by ZachXBT shows that this holder sold nearly $830,000 in DJT tokens late Tuesday, and their wallet contains millions of dollars in SHOGGOTH tokens.

Despite the ongoing drama, the price of DJT tokens has crashed, falling 58% in the last 24 hours.

News source：https://www.kdj.com/cryptocurrencies-news/articles/martin-shkreli-admits-created-controversial-djt-token-demands-m-bet-giganticrebirth.html

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