Is Trump’s son part of a crypto ‘pump en dump’ worth 100 million dollar?

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Last Updated on 23 June 2024 by CryptoTips.eu

The crypto world is rocked by a new scandal with possibly great repercussions. The latest ‘political’ memecoin called DJT (Donald J Trump) soared this week and turned someone into a millionaire.

However, no one knows for sure who is behind this ‘pump and dump’. Crooks claim that convicted criminal Martin Shkreli, also known as ‘Pharma Bro’ (because he used to raise the price of life-saving drugs), is the reason. Martin himself says that he did it together with none other than Barron Trump, the teenage son of Melania and Donald Trump himself.

A week before the first presidential debate between Joe Biden and Donald Trump, the crypto scandal is front page news all around the world and the American public is guessing along as to who did it.

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Fake coin

Last Monday there was a rumor that the Trump campaign team would launch an official DJT (Donald J Trump) coin.

As a result, the price of another coin called TRUMP (Maga) fell by 31% in one day, as Trump’s campaign team had never recognized that coin and Trump’s supporters assumed that the new coin DJT would quickly increase in value.

A few hours later still, the message came that more than 70% of ‘DJT’ belonged to a single wallet, and was therefore probably a ‘fake coin’ that would be dumped as soon as it hit a certain value. Still, the DJT coin skyrocketed on several crypto trading platforms.

We also covered the tale at that time.

Then on Wednesday night, Arkham Intelligence, a crypto research team, launched a reward of $150,000 to find out who the owner was. A famous crypto investigator quickly revealed that the majority of the DJT coins belonged to none other than ‘Pharma Bro’ Martin Skrelli.

It probably made him more than $100 million since most of the DJT coins belong to the same wallet.

Barron

Shkreli, a convicted criminal who shot to fame in 2015 when he jacked up the price of a life-saving drug with a 5,000% price hike after he bought the drug’s maker with his investment fund, was immediately bombarded with questions by the press about this newest scandal.

However, he says he has evidence that Barron Trump, the former president’s teenage son, set up the whole deal with him. Will this be a first crypto scandal for Trump?

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / [email protected]
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