New York, June 16, 2022 (GLOBE NEWSWIRE) --

The flawed former hedge fund manager is looking at trading stocks for crypto. Launching a crypto project called Albumswap. The native token for Albumswap will be the $MS token which he just launched on his website. The token is priced at $1 per token in a fixed style auction format.

Person Behind Albumswap

Martin Shkreli is a former hedge fund manager and founder of Albumswap. Shkreli is also known for purchasing an unreleased Wu-Tang Clan album, which was seized from his estate after being convicted of securities fraud.

A non-fungible token (NFT) art collective ended up purchasing the unreleased Wu-Tang Clan record for $4 million. Shkreli was sentenced to seven years for his crime but got out early by completing shortened-sentence or good behavior programs.

Martin Shkreli has been released from prison early and is now located at a halfway house located in New York. Shkreli’s federal custody will end in September, and as soon as he got out of prison he took to his social media accounts to speak. On Facebook, Shkreli jokingly said that getting out of jail was “easier than getting out of Twitter prison.”

Last month, during a Twitter Spaces post, the former hedge fund manager seemed to go from a so-called ‘Pharma Bro’ to a ‘Crypto Bro.’ Shkreli also said he leveraged the decentralized exchange (dex) platform Uniswap from behind bars.

“Uniswap is really cool. I started using Uniswap in prison,” Shkreli told his Twitter Spaces’ attendees. Shkreli seems to wholeheartedly believe in the crypto ecosystem and decentralized finance (DeFi).

An idea is born

Shortly after his Twitter Spaces appearance, Uniswap’s founder Hayden Adams responded to Shkreli :

“Will Shkreli still like Uniswap when he learns I listened to that [Wu-Tang Clan] album he bought more recently than him?” Adams said.

Shkreli was quick to respond, replying to Adams tweet with :

“Should I start my own DEX you guys to teach this guy a lesson?”

It was thanks to Haydens tweet that gave Shkreli the idea for creating a uniswap fork, which he has ironically named Albumswap, a reference to the Wu-Tang album Adams was referring to. Albumswap is basically a Uniswap clone, which is a decentralized exchange where users can swap tokens for one another. Shkreli explains :

“I became interested in crypto while I was incarcerated. I actually used Uniswap while in prison. And that was the inspiration for my current project called Albumswap, which is basically a Uniswap fork.” 

When asked why he would create a Uniswap clone, if Uniswap seemed to work just fine. It appeared flashes of the old Shkreli came back.

“I wasn’t planning on it. But I really didn’t appreciate his tweet. I feel that if I can just take 5% of his market share, I will have done my job. Anything I can do to be a thorn in his side.”

Only time will tell if Martin Shkreli’s latest project becomes a success. But one thing is for sure, it’s never a good idea to bet against him.

martinshkreli15@gmail.com

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