The DJT token drama just got messier. Martin Shkreli, the infamous โPharma Broโ who spent years in prison for financial crimes, has been forced to hop on X Spaces to tell the world heโs 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 โversosolโ 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 Martinโs projects, Shoggoth.
DJT insider trading revelations
ZachXBTโs investigation kicked into high gear when crypto analytics firm Arkham offered a $150,000 bounty for information on DJTโs 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 didnโt 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 Martinโs 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 hasnโt received his $150,000 bounty from Arkham. Despite the controversy, DJTโs price surged 180% within hours of Martinโs revelation. His response to Zachโs allegations was, โI like Zach a lot. I sent him evidence in confidence that proves my claim. Itโs unfortunate he chose to post it.โ
Martin Shkreli isnโt 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 piece of information included in this article come directly from ZachXBT. All investigative credits go to ZachXBT.
This article has been updated to include Martin Shkreliโs response.
Jai Hamid
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