Winklevoss Twins Back Trump with Bitcoin, Miner Reserves at 14-Year Low, Shkreli Talks TrumpCoin
Summary:
The Winklevoss twins pledge a $2M Bitcoin donation to support Donald Trump in the presidential race, criticizing current president Joe Biden as being anti-crypto. Concurrently, Bitcoin reserves held by miners reach a 14-year low due to halving pressures. Lastly, Martin Shkreli alleges Barron Trump's key role in the creation and launch of the Solana-based TrumpCoin (DJT) token.
The Winklevoss twins have shown their support for Trump, a move that doesn't seem to shock anyone. The total Bitcoin stash owned by BTC miners has plunged to a low not seen in over 14 years. On a related note, Martin “Pharma Bro” Shkreli engaged in a lengthy X Spaces discussion on Wednesday, delving deeper into Barron Trump’s suspected role in the creation of the Solana-based DJT token.
Believing in a Trump return to the White House, the Winklevoss duo pledged to gift a million dollars each in Bitcoin, causing no eyebrows to be raised in the current presidential race. Cameron and Tyler Winklevoss, founders of the Gemini cryptocurrency exchange and staunch cryptocurrency advocates, have pledged this donation to Trump's cause. Tyler Winklevoss, in an X post, criticized current U.S President Joe Biden, calling him anti-crypto and dismissing anybody who thought otherwise as misleading, delusional, or dishonest. Cameron Winklevoss fully concurred with this sentiment in a following post.
In another development, the total stack of Bitcoin in possession of miners has dipped to a level not seen in 14-plus years, as per data from IntoTheBlock. On June 19, the reserves dwindled to 1.90 million Bitcoin, down from the 1.95 million at the year's beginning. Lucas Outumuro, the research head at IntoTheBlock, anticipates miners will retain less Bitcoin going forward due to halving putting a strain on margins, thus making them more prone to offloading their reserves.
Also making headlines, Martin Shkreli, infamous as “Pharma Bro”, is now alleging that Donald Trump's son, Barron Trump, was instrumental in launching the TrumpCoin (DJT) token under senior Trump’s endorsement, and controls the private keys to its smart contract address. Shkreli, an ex-convict with over six years in jail for securities fraud, alleges that Barron sought his help in launching the Solana-based token in April, presently valued at $146 million per Birdseye estimates. It should be noted that Barron Trump & his spokespeople have yet to confirm or deny these allegations.
In a Mario Nawfal-led X Spaces session, Shkreli professed that his involvement was limited to offering advice to his “friend” Barron Trump about the token launch rather than making any direct contributions to its deployment. He implies that the credit for DJT’s creation goes to Barron Trump, adding that it also involved the cryptocurrency influencer “Ansem”. During a separate X Spaces interaction on Tuesday, Shkreli indicated that as many as 10 people had a hand in the token's launch. More in-depth coverage of this story is provided by Geraint Price, Sam Bourgi, and Felix Ng.
Published At
6/20/2024 11:24:01 PM
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