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The property of Colombian late Colombian Pablo Escobar, who is said to be responsible for countless murders and at some point, up to 80% of the cocaine that entered the United States, has questioned the reliability of the cryptocurrency stablecoin Tether.
Escobar Inc. plans to launch a first coin offering (ICO) for a new Ethereum-based stablecoin pegged to the US dollar, which will rival the current Tether market leader.
Escobar sets the views on Ousting Trump and Tether from the leadership positions
Roberto Escobar, brother and former accountant of the Colombian cocaine boss Pablo Escobar, and Escobar Inc. are preparing to launch a first coin offering for a new stablecoin from the dollar called ESCOBAR. According to the white paper, ESCOBAR will be a 1-to-1 EthCo-based ERC20 token to the US dollar, with a billion fixed supplies and, like Tether, it will be redeemable as of June.
While ESCOBAR is mainly focused on the dismissal of US President Donald Trump, ESCOBAR is also positioned as a convinced competitor of Tether.
Escobar Inc. successfully raised $ 10 million for its "Impeach Trump Fund" through a GoFundMe campaign that was eventually pulled from the crowdfunding platform before reaching the $ 50 million target. The CEO of Escobar Inc., Olof Gustafsson, said that the campaign censorship led to the creation of the new cryptography, which the company will use to avoid centralized platforms that could continue to represent an obstacle to the company's fundraising efforts. .
Related reading | Tether will issue US Dollars with Tokenized on Ethereum Blockchain
The company seems to be destined to indict the controversial US president, but has also focused their sights on the controversial cryptography linked to the Tether dollar, which is currently the main stablecoin on the market.
The COO of Escobar Inc, Daniel Reitberg, said that ESCOBAR will be released "in 2019 as a stable alternative to the Tether USD", adding that he and his company "do not trust the USD". Reitberg has suggested that Tether and other stablecoin are run by "unknown" companies "and instead people should use ESCOBAR because of Roberto Escobar's track record of earning" hundreds of billions of dollars over the course of his career ".
The crypto community is ready to call Tether as a shady and unreliable operation, yet the allegations seem even more overwhelming when the holding of a cartel boss who is personally responsible for the deaths and sufferings of hundreds and thousands of individuals calls with confidence the reliability of the stablecoin in question.
From the Bitcoin diet to ESCOBAR, Escobar Estate is infatuated with Crypto
Last year, the Pablo Escobar estate also launched another ICO for a Bitcoin fork called Diet Bitcoin (DDX). At that time, Reitberg encouraged investors to "buy as many dietetic diets as they can afford" because the "value will be very high".
The value is not "very high" at present, only 1 cent per DDX token. The first investors were able to capture every DDX token and a "discounted" price of $ 50 for the first 300,000 coins, while last-minute investors paid up to $ 1,000 per token.
Related reading | Pablo Escobar's younger brother launches the Bitcoin Crypto diet
The Diet The price of Bitcoin peaked at $ 0.96 according to CoinMarketCap before it fell to one cent.
Roberto Escobar also wrote a book on Diet Bitcoin, and in it he stated that the mysterious creator of Bitcoin Satoshi Nakamoto was indeed a front for the CIA, who were the true creators of the first cryptocurrency. Escobar believes that one day the CIA will sell all the coins of Satoshi, making the value of Bitcoin fall to "almost zero".
"Keep the etereum, keep the TRON, keep the ripple, keep the bitcoins in. You'll see what happens, they'll all go to zero, almost to zero, but not my money, because my coin, this will be the my new job in life ", said Escobar.
