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Having allegedly blocked by fundraising on GoFundMe, the brother of the late drug lord Pablo Escobar has launched a cryptocurrency that apparently affected the US President Donald Trump's impeachment.
Revealed in a new website, escobartrump.org, the new token has been dubbed ESCOBAR and is a stereecoin ethereum based on ERC-20 which states that it will be pegged to the US dollar. The project was founded by Escobar's elder brother, Roberto.
The site also states:
"The token was born as a tool to raise funds for the Impeach Trump Fund, in which a GoFundMe fundraiser was closed and censored.Thanks to cryptocurrencies, there are no limits to censor!"
The project is currently in possession of an ICO pre-sale of 200 million coins, launched Wednesday and open until 10 May. Overall, the Escobar estate hopes to sell 1 billion of ESCOBAR, according to its white paper. By June, the website states, the stablecoin will be redeemable in dollars through a company in Belize.
Olof Gustafsson, CEO of Escobar Inc., told The Next Web that the plan had been to raise $ 50 million through the GoFundMe campaign that had titled "ByeByeTrump". But after their campaign was stuck on the platform, they decided to launch the token, he said.
Gustafsson went on to say:
"After collecting $ 10 million in just 10 hours, we were shut down by GoFundMe and in 24 hours we launched the ESCOBAR cryptocurrency striptecoin to prevent anyone from censoring us again. [sic] or President Trump silenced us. "
The statements of GoFundMe have yet to be confirmed, said TNW, although he has posted a screenshot provided by Escobar Inc. which claims to be the campaign page with $ 10 million donated.
On another site for his Trump impeachment campaign, Roberto Escobar is openly described as the former co-founder of the Medellín drug cartel along with Pablo, "where Roberto was the accountant responsible for over $ 100 billion in profits ".
Escobar Inc. has previously released another crypt called dietbitcoin that appears to have melted. The token sales website is currently classified by Google Chrome as a security risk to visitors.
It remains to be seen whether this latest cryptocurrency touted by the co-founder of a drug cartel can do better. Cryptor investors should, of course, carry out an adequate due diligence before investing in any currency.
Image of Donald Trump via Shutterstock
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