🇺🇸 Trumps Token Turmoil

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Martin Shkreli Says He is Behind Trump-Linked DJT as ZachXBT, GCR Start Poking Around (4 minute read)
Martin Shkreli admitted on Tuesday that he was behind the controversial DJT token during an X space discussion, which thousands tuned into. This came just days after he denied any involvement as popular accounts GCR and ZachXBT sought the token’s creator.

“I have 1000 pieces of evidence I created it with Barron,” Shkreli told blockchain investigator ZachXBT in a direct message, which ZachXBT later posted. Shkreli also confirmed this in his X spaces podcast.

The DJT token sparked curiosity among crypto enthusiasts due to its rumored connections to Donald Trump and his son Barron. Blockchain sleuths discovered that DJT’s Telegram channel had the same admins as another token linked to Shkreli, who initially denied involvement while DJT gained traction. On Tuesday night, influential crypto trader GiganticRebirth, known as GCR, publicly questioned Trump’s involvement and wagered $100 million that Trump had nothing to do with the project.

This challenge was initially suggested by crypto trader Alex Wice for $1 million. Shkreli then provoked prominent crypto figures, drawing ZachXBT to submit his findings to Arkham. Shkreli now demands GCR to honor the $100 million bet, claiming he co-created the token with Barron Trump.

LayerZero opens eligibility checker for upcoming token airdrop (2 minute read)
The LayerZero Foundation, backing the cross-chain interoperability platform LayerZero, has introduced an eligibility checker for its upcoming airdrop. Users can now verify their eligibility and view a summary of their activity, including their start date and transaction count.

Pellegrino mentioned that 1.28 million wallets qualify for the airdrop. Last week, the LayerZero Foundation hinted at the airdrop date, "06.20.2024," in its first social media post. Over the weekend, Pellegrino detailed the airdrop, stating that 23.8% of the 1 billion token supply is allocated to the community and builders. On the first distribution day, 8.5% of the community's share will be distributed. The rest will be gradually distributed over the next 36 months, with additional allocations every 12 months and future RFPs for builders.

Ethereum Soars Above $3,500 After SEC Clears Regulatory Hurdles (2 minute read)
Ethereum's value soared past $3,500 after the US Securities and Exchange Commission (SEC) wrapped up its lengthy investigation. Concerns had been swirling about Ethereum potentially being labeled an unregistered security, which significantly worried investors and impacted its market performance.

The end of the investigation has restored investor confidence, leading to a modest boost in Ethereum's price. The SEC's inquiry centered on the Ethereum Foundation and questioned whether Ethereum should be regulated as a security, a classification that could have drastically reduced demand for the digital asset. In response, Consensys, a major player in the Ethereum ecosystem, filed a lawsuit on April 25, 2024, challenging the SEC's authority and asserting that Ethereum should be considered a commodity, exempt from the SEC's strict regulations.

Tech

Wormhole: Native Token Transfers (NTT) (10 minute read)
Wormhole’s Native Token Transfers (NTT) is an open-source framework designed to enable projects to establish a standard multichain deployment for their tokens. By leveraging Wormhole Messaging, NTT integrates multichain interoperability directly at the token layer. The framework is both open and flexible, allowing for the incorporation of additional verification methods. This research paper provides an in-depth analysis of NTT’s functionality.

41% of top ZK airdrop wallets have already sold everything (2 minute read)
Nearly half of the top wallets that received the new zkSync (ZK) token on Monday, June 17, have sold their entire allocation, leading to a 34.5% drop in ZK's price since its launch.

Blockchain analytics firm Nansen reports that around 41% of tracked addresses have completely sold their airdrop, while 29.2% sold at least a portion of their tokens, totaling over 486 million ZK sold.

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