Martin Shkreli Claims Barron Trump Created the DJT Crypto Token With His Father's Approval

The investor and convicted securities fraudster's assertion comes after a spike in the price of the meme coin DJT due to rumors of its alleged connection to the former US President.

Martin Shkreli, also known as "Pharma Bro," has claimed that he and Barron Trump are responsible for introducing the enigmatic DJT crypto token, a cryptocurrency named after Donald Trump.

The investor and convicted securities fraudster made the assertion following a spike in the price of the meme coin DJT amid rumors of its alleged connection to the former US President.

According to Shkreli, 18-year-old Barron developed the TrumpCoin (DJT) token with his father's approval and possesses the private keys to its smart contract address.

Shkreli, who was sentenced to over six years in jail for securities fraud, alleges that Barron asked him to establish the Solana-based coin in April. Based on statistics from Birdseye, the token is currently valued at $146 million.

Neither Donald Trump nor Barron have publicly commented on the matter.

At a Mario Nawfal-hosted X Spaces, Shkreli claimed he was not directly involved in launching the token and only provided guidance to his "friend" Barron on its debut.

He further stated that Trump was the actual creator of DJT and included influencer "Ansem" from the bitcoin space.

"I have over 1000 pieces of evidence I created it with Barron," Shkreli told ZachXBT, a crypto investigator who shared the X session and provided the details.

He messaged ZachXBT after blockchain startup Arkham Intelligence announced a $150,000 reward for identifying the person or people behind the DJT coin.

Martin Shkreli says he didn't act alone

In an X post, Shkreli said ten people were involved in the token launch. “I taught someone how to make a contact, and they pushed the button, not me. Keys are with Trump, not me.” He added that ”I did not act alone.”

He also claimed that Trump had spoken to Kraken, a crypto exchange, about potentially listing DJT.

"I have texts from Barron saying his dad approved it," the 41-year-old Pharma Bro stated, adding that Donald Trump "approved it."

“We did this on [Barron’s] computer. He ran the programs,” he said. “We spoke every day for 10 hours a day for the last week.”

In an attempt to support his claims, Shkreli brought the "Mongolian Prince"—a teenaged figure with fewer than 500 X followers who was purportedly involved with Shkreli—into the X Spaces.

When someone in the audience asked the rather shy Mongolian Prince if "Barron made the token" and "has the private keys," he answered with a "mmhmm."

Another audience member asked the Mongolian Prince “who deployed the contract”, he firmly said, “Barron," adding that he “wanted to do something special, something significant, and we all wanted to help him with that.”

According to Mongolian Prince, he met with Trump in Florida. Before the DJT token launch, Mongolian Prince said that Trump laughed when Barron showed him Phantom wallet, which is based in Solana.

Blockchain expert ZachXBT received a $150,000 prize from blockchain analytics firm Arkham Intelligence for reportedly identifying Shkreli as the creator of the DJT cryptocurrency.

Adam Cochran, a partner at Cinneamhain Ventures, charged that Shkreli was "trying to throw Barron under the bus" in an effort to clear his own name.

Many spectators in the X Spaces agreed with Shkreli's account of events, while others expressed skepticism, suggesting that Trump would not be foolish enough to risk his father's reputation during an election year.

Donald Trump and Barron not involved in DJT Solana Meme Coin: Roger Stone

One of Trump's close advisers, Roger Stone, refuted any involvement of the former president or Barron with the DJT memcoin as the conversation around his involvement took center stage on social media.

In 2017, Shkreli was found guilty on two charges of securities fraud and one charge of conspiracy in a federal court. He was sentenced to almost seven years in prison and was fined almost $70 million as a result.

Many people have speculated that his current involvement may breach his parole restrictions, but Shkreli has denied this.

In response to the 1.6 million followers X account "BORED," which threatened to send him back to prison, Shkreli responded, "Read the law, idiot."

Also Read: Trump makes hurtful revelation on how son Barron feels about his hush money conviction

How DJT impacted other meme coins

The influence on the prices of cryptocurrencies with Trump themes has been significant, regardless of the general skepticism over the purported links between the DJT token and the Trump family.

The MAGA-inspired TRUMP cryptocurrency fell 31% in the four hours following the reports, according to CoinGecko, from its prior level to $7