According to an Asia Times report on January 14, 2018, Roberto Escobar, the brother of Pablo Escobar, the late Columbian drug lord is running a fundraising cryptocurrency campaign to impeach the current president of the United States, Donald Trump, and remove him from office.
Escobar Launching Ethereum-Powered Stablecoin
Per sources close to the matter, Roberto de Jesús Escobar Gaviria, a co-founder of Medellín Cartel, a highly organized Colombian drug cartel that existed throughout the 1970s and 1980s, is running an Initial Coin Offering (ICO) of ESCOBAR, an Ethereum-based cryptocurrency that it claims will be a US dollar-backed stablecoin.
Specifically, the stablecoin fundraising campaign is aimed at rivaling Donald Trump and possibly out throwing him from office for reasons that are yet unknown.
Interestingly, Olof Gustafsson, CEO of Escobar Inc. has thrown more light on the details of the event that led to the introduction of the digital asset.
According to him, the company had first launched a campaign on GoFundMe, a free online fundraising platform and $10 million was generated within 10 hours before it was censored and shut down by its owners.
Gustafsson believes that this may have been the handiwork of the U.S. president and therefore, Escobar Inc. moved to a decentralized platform which has no central control.
Escobar’s website, on the other hand, encourages those who want to impeach the Donald Trump to make donations.
The site specifically states that:
We need your help, the support of the people that agree that it is not fair to have a corrupt President rule over the free world and rule over the U.S.
ESCOBAR May Compete With US Tether Stablecoin
Asides being targeted at Trump, reports also reveal that ESCOBAR, a coin with one billion supply and offered at one dollar per token will possibly rival Tether (USDT), a stablecoin backed by the dollars and tagged the “World’s most popular stablecoin.”
Escobar Inc has attributed this to the fact that its virtual currency is more trustworthy than the USDT which the United States Department of Justice (DOJ) in November alleged to have been used in manipulating bitcoin’s price in 2018.
The company also sees the possibility of ESCOBAR rivaling coins from other companies and claims that it is because they have more business experience than others out there and Roberto Escobar has made billions throughout his career.
In related news, BTCManager on December 17 reported of Warren Davidson, Ohio’s congressman suggestion that a Wall coin can be used to build a security wall between the US and Mexico to meet Donald Trump’s demands.