Source: Insider says Trump's campaign team did not participate in the Meme project DJT

PANews reported on June 20th, according to DL News, the Trump-themed meme coin DJT on Ethereum quickly gained popularity after Pirate Wires, a tech publication, announced its issuance under Trump's support. However, there was a lack of communication from the Trump campaign team about this matter which led to public doubts about the authenticity of the report. An insider who understands the decision-making process of Trump's campaign team revealed that they did not participate in this project.

Meanwhile, former pharmaceutical executive Martin Shkreli once claimed that DJT is an "official Trump coin" and challenged members of the cryptocurrency community. Although his bet with pseudonymous trader GCR reached as high as $100 million dollars it was cancelled due to disagreement over terms. Currently, Polymarket traders believe there is a 3% chance that either Trump or his family members or employees issued this token; liquidity for this bet is nearly $2.5 million dollars and peaked at 59% probability on June 17th.

Shkreli further claimed he collaborated with Barron Trump - Donald’s youngest son - to issue these tokens and stated during Wednesday's X Spaces show that Barron holds most tokens and is the sole beneficiary of this project. However, DL News could not independently verify his statement. Cryptocurrency influencer Jordan Fish (also known as Cobie) disclosed that Shkreli claiming it was a member of the Trump family rather than Donald himself caused GCR to back out from their $100 million dollar wager.