- The Trump campaign is not involved with the DJT memecoin on Solana, according to an insider source close to the Trump operation.
- Martin Shkreli claims he worked with Barron Trump to create the DJT token, and that Barron holds the majority of tokens as the sole beneficiary.
- Bettors on Polymarket assign a 3% chance that Donald Trump or someone from his family/staff launched DJT with his consent, with the bet having around $25 million in liquidity.
The latest Trump-themed memecoin, DJT, was not launched in coordination with the Trump campaign according to a source with direct knowledge of the situation. The claim that DJT was an official Trump coin came from Martin Shkreli, the former pharmaceutical executive.
Shkreli Claims Barron Trump Collaboration
Shkreli stated that he worked with Barron Trump, Donald Trump‘s youngest son, to create DJT. He also claimed that Barron holds a majority of the tokens and is the sole beneficiary. These claims could not be independently verified.
Bettors Assign Low Odds to Trump Involvement
On betting platform Polymarket, bettors assign just a 3% chance that Trump or his family/staff launched DJT with his consent. The bet has almost $25 million in liquidity and reached as high as 59% on June 17.
DJT Trades Around $0.01 With $100 Million Market Cap
According to CoinGecko data, DJT is trading around $0.01 with a market capitalization of $103 million. The token went viral after initial reports of Trump’s backing, but insider knowledge disputes direct campaign involvement.
Conclusion
While DJT rode a wave of hype around potential Trump endorsement, it appears the former president’s operation was not directly involved. The situation illustrates how rumors can drive major price swings and attention in the cryptocurrency world.
