The DJT token drama just got messier. Martin Shkreli, the infamous “Pharma Bro” who spent years in prison for financial crimes, has been forced to hop on X Spaces to tell the world he’s the creator of DJT. This comes amid allegations of insider trading and connections to high-profile figures, as DJT was promoted with hints of ties to Barron and Donald Trump.
ZachXBT, the well-known blockchain detective, discovered that an insider named “versosol” sold $832,000 worth of DJT. Versosol then converted the proceeds to USDC and deposited them into a centralized exchange. This insider is also a whale in another of Martin’s projects, Shoggoth.
DJT insider trading revelations
ZachXBT’s investigation kicked into high gear when crypto analytics firm Arkham offered a $150,000 bounty for information on DJT’s creator. ZachXBT responded to this bounty, and just minutes later, Martin, in a panic, messaged him, begging him not to be exposed and outing Andrew Tate and Barron Trump in the process.
But then, soon after, Martin announced in a live online space that he was the creator of DJT.
This sudden admission was confusing because Martin had denied being involved with DJT just a day before. This backtracking further fueled speculation and doubt among the crypto community.
The story didn’t end with versosol. Lookonchain reported another insider making massive profits off DJT. This insider created a new wallet, withdrew 72 SOL from Binance, and used 67.1 SOL to buy about 58.87 million DJT. They then sold the tokens for a whopping 7,387 SOL and 10,241 USDC, turning a $9,400 investment into over $1 million.
This kind of profit, 110 times the initial investment, happened right before Martin’s public admission. ZachXBT hinted at more insider trading, saying that Martin tipped off friends to buy DJT before the public knew about it. He posted a screenshot of a conversation where Martin seemed to be encouraging someone to buy DJT because he created it for Trump.
Meanwhile, ZachXBT hasn’t received his $150,000 bounty from Arkham. Rumors are swirling that Arkham might have warned Martin about Zach’s investigation, prompting Martin’s rushed announcement.
Despite the controversy, DJT’s price surged 180% within hours of Martin’s revelation. His response to Zach’s allegations was, “I like Zach a lot. I sent him evidence in confidence that proves my claim. It’s unfortunate he chose to post it.”
Martin Shkreli isn’t a stranger to controversy. Known for hiking the price of a life-saving drug and his subsequent criminal conviction, he has remained a polarizing character in the investment world.
NOTE: Every single information included in this article come directly from ZachXBT. All investigative credits go to ZachXBT. This article has been updated to include Martin Shkreli’s response.
Jai Hamid
