Another Trump-Adjacent Crypto-Con, Yesterday?! Seems... Likely -- Using His Youngest Son...

Some times, history doesn't echo -- but it... rhymes. [See the August 2022 alleged "rug pull", right about when he needed to pay about $300,000, in cash legal fees.]

Or, subtitled: It Would Be A Fascinating Coincidence, If Mr. Shkreli's Recent Venture Has Banked That $2 Million He Announced Last Week. . . Tonight.

Yep, this is on the supposed-Barron Trump controlled sh!tcoin called "DJT". And Mr. Shkreli's own very-recent bleating, about his involvement -- in the same. [See chart at right -- from about 14 hours ago.]

So -- here's at least one version of the tale -- from the crypto-bro press outlets:

. . .The Donald Trump-themed DJT token on Solana dropped 90% earlier Tuesday after a single wallet sold $2 million worth in a single transaction, bringing its market capitalization down to $3 million from $55 million within seconds.

The wallet ‘4UGm6’ held 20% of the DJT token supply and pocketed 15,500 SOL from the transaction. It then transferred the holdings to four different wallets, crypto social application @0xppl_ said. . . .

The Trump campaign has not officially commented on the matter or Barron’s involvement in the token.

Meanwhile, at least one large holder in both DJT and Shoggoth.ai, Shkreli’s other project, had been profiting when he was publicly backing the token. One large DJT holder sold nearly $830,000 worth of DJT from a wallet that held millions of dollars worth of SHOGGOTH tokens around June 19. . . .

Nevertheless, Shkreli appeared to blame Barron for Tuesday’s price drop. He repeatedly claimed he did not hold any DJT tokens and did not share access to the private keys that controlled its liquidity pools.

“Ask Barron, i don't have the keys or any tokens,” he claimed in an X post when asked for comment alongside a graph showing the token’s price drop. “I helped make it with understand (sic) it was the official trump token, not that this would happen,” he said in a reply to another X post. . . .

Well. . . we shall see. If Martin is suddenly able to pay his lawyers. . . gee, that will speak for itself.

He did claim last week that one of his ventures had secured (coincidentally!) a "$2 million" seed investment. That would correspond with a closing and funding, today, Tuesday... August 6, 2024.

So maybe that "investment" was just Mr. Shkreli's "consulting payment" (from a friendly third party) for structuring the DJT token offering. But no matter how you slice it, he is not allowed to work in the investment securities markets promoting any Howey security, or making money from doing so -- even by structuring offerings, under his SEC life time banning order, via the 2018 Brooklyn federal civil securities fraud charges, all from the pen of the able USDC Judge Matsumoto.

F A S C I N A T I N G.

So, for Martin, it doesn't even have to be a "rug-pull" -- to be unlawful.

Y I K E S.

[And yes, this is (in Condor's opinion) what happens when felons. . . run for high office: every other felon latches on, knowing the "sorting out" -- of who did what, when... will befuddle the authorities. And after all, in for a penny; in for a pound.]

नमस्ते