Did Martin Shkreli violate his parole by launching DJT coin with Barron Trump?
Convicted felon-turned-crypto influencer Martin Shkreli launched a meme coin called DJT. During a live social audio room on X (formerly Twitter), he said he didn’t own any of its supply and simply launched it to “help a friend.”
It turns out that this friend is Barron Trump, the 18-year-old son of Donald J. Trump.
As of publication time, the Solana meme coin is down 73% from yesterday’s $0.047 high.
Investigative researcher ZachXBT posted evidence that the holder of large quantities of another Shkreli meme coin, Shoggath, sold $832,000 worth of DJT within the past 24 hours. However, ZachXBT does not believe that particular wallet belongs to Shkreli.
Read more: Martin Shkreli tells reporter to ‘lick my balls,’ New York cancels his crypto event
Earlier, Shkreli sent a direct message (DM) to ZachXBT claiming that Andrew Tate had confirmed Barron Trump’s involvement.
Interestingly, it’s also apparently part of Shkreli’s parole terms that he submit full financial statements, and steer clear of “any self-employment involving access to client money or investments.”
This could potentially mean he has violated his parole by managing an investment opportunity on behalf of Barron Trump.
Why Martin Shkreli launched an immediate failure
GCR, a crypto whale trader, apparently made a large bet about a Trump family member not endorsing the meme coin. Shkreli is on the opposite side of that bet and wants to collect a payout of $100 million from GCR.
Shkreli claimed on his live X Spaces room that he has a private message from GCR clarifying that Barron Trump’s endorsement would suffice to win the modified terms of the original bet.
A caller on his X Spaces yesterday asked Shkreli why he helped Barron create the meme coin if he didn’t personally own an allocation of tokens to sell.
Shkreli responded, “We mentioned it earlier, the same reason why you might create an NFT collection — it could be popular, and one could make money. Trump said it himself, he wants to be the crypto president.”
The caller asked a follow-up question, “So, the team held tokens that they could sell?”
He responded frankly, “That would probably be the correct assumption.”
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