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PoliFi Tokens Return to Business After Proof of DJT-Trump Link Fails to Materialize
Many PoliFi tokens fell more than 10% after claims emerged that the Trump campaign was behind the DJT token.
Updated Jun 25, 2024, 11:22 a.m. Published Jun 25, 2024, 11:19 a.m.
- PoliFi tokens are back in the green after no credible evidence emerged that the Trump campaign or his family is involved with the DJT token.
- Martin Shkreli continues to claim there was involvement.
So-called PoliFi tokens such as TRUMP, TREMP and Boden have recouped their losses after a slate of denials from people in Donald Trump's orbit – but not the campaign itself – regarding any official connection between the DJT token and the Republican presidential hopeful.
CoinGecko data shows that TRUMP, the first major token in the sector that matches financial instruments with political themes, has gained 24% in the past 24 hours, while its Solana counterpart TREMP added 20%, and the Joe Biden-themed BODEN is well in the green climbing over 45%.
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The entire PoliFi sector has risen 14%, market data indicate.
The increases likely result from a market consensus that the DJT token does not have a connection to the former president's campaign nor to his family.
A Polymarket contract asking if DJT "is real" resolved to No, but that outcome is currently being disputed. Other contracts asking if Trump's son Barron Trump had some involvement also resolved to No, but they are going through that same dispute process.
Despite this, the DJT token added more than 30% in the last 24 hours.
An investigation by ZachXBT concluded that Martin “Pharma Bro” Shkreli, a convicted felon, was behind the token, which Shkreli confirmed – though he continues to claim that Barron Trump also participated in the project.
apology letters should be single-spaced, Times New Roman, size 12 -- and buy $DJT, the only real trump token
— Martin Shkreli (e/acc) (@MartinShkreli) June 25, 2024
While the Trump campaign has not officially commented on the DJT token, DL News reported that insiders say there is no official involvement.
Roger Stone, a Republican political consultant and ally of Trump, also said there was no official involvement, and that Barron was also not involved.
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