Polymarket bets on DJT token being real drop on Martin Shkreli ownership claims

June 19, 2024 09:26 AM PDT | By Invezz

Polymarket bets on DJT token being real drop on Martin Shkreli ownership claims — Image source: Invezz

Martin Shkreli’s DJT token ownership claims

During an X Spaces session, Martin Shkreli, infamous for his role in the pharmaceutical industry and subsequent legal issues, revealed details suggesting his direct involvement in launching the token, alongside references to Donald Trump’s son, Barron Trump, being aware of its development.

This disclosure came shortly after a $150,000 bounty was offered by Arkham Intelligence to identify the token’s creator, spurred by skepticism and the need for clarity within the cryptocurrency community.

Interestingly, Shkreli’s X Space session followed a reply by ZachXBT, the self-proclaimed ‘scam survivor turned 2D detective,’ stating that one of the large DJT insiders verso.sol who was coincidentally also a large holder on Martin’s other project Shoggoth, was dumping $832K worth of DJT and then depositing USDC to CEX.

Who else was potentially involved with DJT?

An account named CWR was the admin of the Telegram group for the DJT token.

CWR is also very active in Martin Shkrehli’s public Discord server with 1K+ messages.

CWR’s Discord username is ‘cameronrox’ and refers to his alleged… pic.twitter.com/1dhwYzHeD3 — ZachXBT (@zachxbt) June 19, 2024

Shkreli’s statements have triggered a wave of reactions, influencing market dynamics and investor sentiment towards the DJT token, which had hit the ground running following its association with the Trump Media & Technology, whose stock trades under the ticker “DJT” on Nasdaq and has fallen 39% since May 30.

Majority on Polymarket bet on DJT token not being real

Polymarket, a decentralized betting platform, has become a focal point for gauging market sentiment and speculation surrounding the DJT token’s legitimacy.

Prior to Shkreli’s assertions, bets were evenly split, reflecting the divided opinions within the crypto community regarding the token’s origins and connections to Donald Trump.

However, the platform recorded a notable shift in betting behavior after Shkreli’s X Spaces revelation, with bets favoring DJT’s authenticity decreasing from 17% (17¢) to a mere 7% (7¢), with 93% (93¢) bets against any DJT token’s association to former President Donald Trump or his family.

This decline in betting activity on the token’s legitimacy underscores the impact of Shkreli’s claims on investor confidence and perceptions.

Further, the volatile nature of cryptocurrency markets, exacerbated by unsubstantiated claims and rumors, has contributed to fluctuations in DJT’s trading price.

Currently, the token is experiencing significant price swings, trading down more than 66% from its peak post-launch, reflecting market uncertainty and cautious investor behaviour.

At press time, the DJT token was trading at $0.01097 down 5.58% according to coinmarketcap data, signifying the impact of Martin Shkreli revelation.

The post Polymarket bets on DJT token being real drop on Martin Shkreli ownership claims appeared first on Invezz

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations, and video (Content) is a service of Kalkine Media LLC., having Delaware File No. 4697309 (“Kalkine Media, we or us”) and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media.
The content published on Kalkine Media also includes feeds sourced from third-party providers. Kalkine does not assert any ownership rights over the content provided by these third-party sources. The inclusion of such feeds on the Website is for informational purposes only. Kalkine does not guarantee the accuracy, completeness, or reliability of the content obtained from third-party feeds. Furthermore, Kalkine Media shall not be held liable for any errors, omissions, or inaccuracies in the content obtained from third-party feeds, nor for any damages or losses arising from the use of such content. Some of the images/music that may be used on this website are copyrighted to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures/music displayed/used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it, as necessary.
This disclaimer is subject to change without notice. Users are advised to review this disclaimer periodically for any updates or modifications.