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Highlights
- Arkham offers $150K for ID of DJT token creator amid heavy insider trading.
- Market bets $400K on DJT not being an official Trump project.
- Blockchain shows one wallet's pre-launch DJT purchase spikes.
Arkham Intelligence has put up a $150,000 bounty for anyone who can definitively reveal the identity of the person behind the Donald Trump-themed DJT token.
This announcement has attracted a lot of interest and rumours within the financial and political fraternity.
Bounty for the DJT token Creator
On Tuesday, Arkham Intelligence posted on the social media platform X, saying, “F**k it, we ball. $150,000 to the first person to confirm the identity of the creator of $DJT.” This comes as more and more people express their interest and concern towards the said cryptocurrency, which is allegedly connected to the former U. S. President Donald Trump but not officially endorsed by him or his representatives.
Fuck it, we ball.
$150,000 to the first person to definitively prove the identity of the creator of $DJT.
Only on Arkham Intel. https://t.co/cngi98z9Wr https://t.co/5snKhSyfuh pic.twitter.com/lEA6rm3BCe
— Arkham (@ArkhamIntel) June 18, 2024
The DJT token, which is a Solana-based meme coin, has a rather ambiguous background and it is still unclear who stands behind it and what the token is for in essence. Since its launch, market analysts and on-chain tracking firms have been keeping a close eye on the token, with observations of extensive insider trading and a very centralized distribution of tokens across a few wallets.
However, these speculations began when a rather dubious businessman Martin Shkreli, reposted a tweet stating that the DJT is an official Trump token. At the same time, X account of Pirate Wires media outlet stated that, based on the insiders, Donald Trump was personally involved in the creation of the DJT token, with his youngest son Barron assumed to be the project’s chief promoter.
Market Reactions and Speculations
The reactions to the DJT token in the market have been mixed with high trading volumes which can be attributed to the interest in the token due to its link with Trump and the nature of meme coins. On Polymarket, a prediction market platform, the probability of the DJT token being an official project of Donald Trump is 20%.
Still, around $400,000 has been placed on this specific probability, signifying the high risks and interest associated with the token’s unknown creator.
Per conversations, Trump is launching an official token — $DJT on Solana. Barron spearheading.
— Pirate Wires (@PirateWires) June 17, 2024
Moreover, blockchain analysis companies like Bubblemaps and Lookonchain have pointed to red flags including large acquisitions of DJT tokens by potential insiders. For example, one wallet addressed dramatically increased its balance just before the token was released to the wider market, which can imply insider trading or at least the insiders’ cooperation.
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