Martin Shkreli, known as “Pharma Bro,” has claimed that Donald Trump’s 18-year-old son, Barron Trump, launched the TrumpCoin (DJT) token with his father’s approval and holds the private keys to its smart contract address.
Shkreli, who spent over six years in prison for securities fraud, alleges that Barron Trump approached him in April to launch the Solana-based token, which is now valued at $146 million, according to Birdseye data.
Neither Barron Trump nor his representatives have issued a public statement regarding these claims.
In an X Spaces session hosted by Mario Nawfal, Shkreli stated that he only provided advisory support to his “friend” Trump regarding the token launch and did not play an active role in deploying the token. He further claimed that Barron Trump was the true creator of DJT and mentioned that cryptocurrency influencer “Ansem” was also involved.
“I taught someone how to make a contract, and they pushed the button, not me. The keys are with Trump, not me,” Shkreli said in an X post. During an X Spaces session on Tuesday, Shkreli suggested that 10 people were involved in the token launch.
“I did not act alone,” he emphasized. Shkreli also claimed that Trump was in contact with the crypto exchange Kraken to discuss the potential listing of DJT. Cointelegraph reached out to Kraken but did not receive an immediate response outside regular business hours.
Shkreli further asserted that Donald Trump was not only aware of the DJT token but had “approved it.”
“I have receipts of Barron saying his dad approved it,” Shkreli claimed. To support his case, Shkreli brought a teenager known as “Mongolian Prince,” who has fewer than 500 followers on X, into the X Spaces session. This individual allegedly worked with Shkreli on the project.
Noticeably shy, Mongolian Prince responded “mmhmm” when asked by an audience member whether “Barron made the token” and “has the private keys.”
When another audience member inquired, “Who deployed the contract?” Mongolian Prince answered, “Barron.”
“[Barron] wanted to do something special, something significant, and we all wanted to help him with that,” Mongolian Prince added.
Mongolian Prince claims he recently met with Trump in Florida, but his recount of Donald Trump’s supposed involvement is far less clear. According to Mongolian Prince, Barron showed his Solana-based Phantom wallet to his father before the DJT token launch, and Trump supposedly responded only with laughter.
Mongolian Prince’s seven-hour X Spaces session came a day after blockchain sleuth ZachXBT won a $150,000 award from blockchain analytics firm Arkham Intelligence for allegedly identifying Shkreli as the creator of the DJT token.
Adam Cochran, a partner at venture capital firm Cinneamhain Ventures, accused Shkreli of “trying to throw Barron under the bus” in an attempt to clear his own name.
Several audience members in the X Spaces agreed with Shkreli’s version of events, while others disagreed, arguing that Trump wouldn’t risk creating controversy for his father during an election year.
Shkreli was convicted in federal court on two counts of securities fraud and one count of conspiracy in 2017. He served nearly seven years in prison and paid over $70 million in fines.
Some have suggested that Shkreli’s recent involvement in the DJT token could violate his parole conditions, though Shkreli has denied this. In response to the 1.6 million-follower X account “BORED,” which claimed he would return to prison, Shkreli retorted, “Read the law idiot.”
