The brother of the late narcotics kingpin Pablo Escobar has recently announced he would be setting up an Initial Coin Offering (ICO) to raise money in an attempt to impeach US President Donald Trump. Originally, he was planning to crowdsource up to $50 million through a GoFundMe campaign but the popular crowdfunding platform shut down his campaign.
Roberto Escobar decided to run his own ICO in order to prevent any centralized platform from preventing his fundraising efforts and the Impeach Trump fund.
According to information provided by The Next Web, Escobar Inc. has claimed to that their GoFundMe campaign had made a total of $10 million in less than 10 hours before the Trump Administration became involved and shut the page down.
CEO of Escobar Inc, Olof Gustafsson, had this to say:
“Originally the goal was to raise $50 million just using the GoFundMe platform. After raising $10 million in just 10 hours we were shut down by GoFundMe and within 24 hours launched the ESCOBAR stablecoin cryptocurrency to avoid anyone censoring us again. We believe the Trump Administration [sic] or President Trump shut us down.”
Furthermore, the campaign has other plans for using the new coins than simply ousting the current US president.
Roberto Escobar states,
“There will be one day when you can use cryptocurrency for all types of payments, such as houses, cars and even chewing gum. That day is yesterday. Now it is time to have a secure alternative to the USD. The ESCOBAR cryptocurrency token is designed as this.”
According to the article, Roberto Escobar’s new stable coin, dubbed Escobar, will be fastened to the US dollar.
As stated in the coin’s whitepaper, Escobar is an ERC-20 token and one billion tokens are planned to be released through the usage of Ethereum Blockchain.
While trying to find ways to impeach President Trump isn’t anything new, placing one’s faith in the hands of someone who’s related to a well-known drug kingpin probably isn’t the best idea. The fact that they stated to have gained over $10 million in funding in such a short while in their previous GoFundMe Campaign is incredibly sketchy as well.
Are you planning on getting involved with this funding?