On-chain investigator ZachXBT has identified Martin Shkreli, widely known as “Pharma Bro,” as the creator of a new Solana-based meme coin, TrumpCoin (DJT).

On June 19, Arkham Intelligence announced a $150,000 bounty for identifying the deployer of DJT. Just hours later, ZachXBT claimed that Shkreli is behind the meme coin after receiving a frantic message from Shkreli himself.

For those needing additional context, here’s the timeline:

  • Arkham announced a $150K bounty for the identity of the DJT creator.
  • At 11:49 pm UTC, ZachXBT replied to Arkham saying he submitted for the bounty.
  • At 11:57 pm UTC, Martin Shkreli sent a panic DM to ZachXBT.
  • By 12:27 am UTC, Shkreli’s involvement was exposed.

Shkreli, who served around seven years in prison and was fined $70 million for securities fraud, claims that Barron Trump, the 18-year-old son of former U.S. President Donald Trump, is also involved in the meme coin. He stated, “I did not act alone.”

Moreover, Shkreli mentioned in a post that the keys to the token’s contract are with “Trump,” indicating Barron Trump. Screenshots shared by ZachXBT show Shkreli asserting that he has over “1,000 pieces of evidence” proving Barron Trump’s involvement in the meme coin’s deployment.

“I did not act alone.”

In an X Spaces discussion on June 18, Shkreli claimed that former President Trump approved the project and that a total of 10 people were involved in its launch. He also mentioned that Trump has been in talks with the Kraken crypto exchange about potentially listing TrumpCoin.

Despite the controversy, DJT surged by 29% in the past 24 hours and is trading at $0.015 at the time of writing. The asset’s market cap stands at $165 million with a daily trading volume of $9 million.

However, the price movement of TrumpCoin has some investors concerned, as it sharply fell from its all-time high of $0.038 on June 18.

There have been no updates from former President Trump regarding the launch of an official meme coin.

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