Martin Shkreli aka “Pharma Bro” May Have Violated Parole Terms by Launching Cryptocurrency Token

Adam Cochran, cryptocurrency commentator, raised concerns on X about Martin Shkreli, also known as “Pharma Bro,” potentially violating his parole terms by launching a cryptocurrency token.

Cryptocurrency commentator Adam Cochran raised concerns on Monday about Martin Shkreli, also known as “Pharma Bro,” potentially violating his parole terms by launching a cryptocurrency token.

Cochran pointed out that a clause in Shkreli’s parole terms forbade self-employment to handle client investments.

Shkreli’s 3 year parole terms require him to give full financial statements, and to avoid “any self employment involving access to client money or investments” (as well as avoiding other crimes)

So either he goes to jail for fraud, or he managed an investment opportunity on behalf of Barron.”

The argument revolves around the mysterious DJT coin on the Solana blockchain. At first, rumors of the community’s connections to Donald Trump’s son whirled. This belief grew more intense. Arkham Intelligence paid $150,000 to find the token’s inventor, which empowered Shkreli to claim ownership.

Shkreli was released on parole in 2022. He was found guilty of securities fraud and conspiracy in 2017 and sentenced to seven years in 2018.

With his analysis of Shkreli’s disclosure of his participation in producing the DJT token, crypto investigator ZachXBT shed light on the developing story.

Shkreli’s DJT Token Controversy Unfolds

ZachXBT’s story claims that Shkreli accepted a bounty from Arkham Intelligence, leading to a tense conversation after which Shkreli privately messaged him, claiming possession of “over 1,000 pieces of evidence” about the genesis of the DJT cryptocurrency.

For those who are confused and need additional context.

Earlier today Arkham announced a $150K bounty for the identity of the DJT creator

11:49 pm UTC I reply to Arkham saying I submitted for the bounty

11:57 pm UTC Martin Shkreli panic DM’s me

12:27 am UTC Martin Shkreli… pic.twitter.com/pKCQDOo7AZ

— ZachXBT (@zachxbt) June 19, 2024

Shkreli came to X to reveal his joint work on the token with Barron Trump. He voiced doubt over whether the Trump family would support his assertions.

Cochran remarked, “So either he faces charges for fraud, or he potentially violated parole by managing an investment on behalf of Barron.”

Although these disclosures attracted interest, Cochran underlined the legal complexity of Shkreli’s activities. Shkreli’s court ruling prohibiting him from engaging in financial activities begs issues regarding the source of money for the DJT currency, presumably connected to his offshore Kucoin account.

READ ALSO: Martin Shkreli Launches Cryptocurrency Token, DJT Coin, Prompting Speculation About Trump Family Involvement