Pablo Escobar’s brother was apparently blocked by the GoFundMe website to fundraise what he desired so it seems he launched a brand new cryptocurrency to target US President Donald Trump’s impeachment. The token was revealed on escobartrump.org and will be known as ESCOBAR.

The ESCOBAR will be a stablecoin pegged against the USD and is ERC-2-based. Roberto, Escobar’s elder brother, funded the entire project.

According to the escobartrump.org website:

The token came to existence as a tool to raise money for the Impeach Trump Fund cause, where a GoFundMe fundraiser was shut down and censored. Thanks to cryptocurrencies, there are no boundaries to be censored!

At the moment, the project is going through its ICO pre-sale, with 200 million tokens available, a phase running until May 10. In total, the estate tries to sell a total of 1 billion ESCOBARS. This stablecoin is expected to be redeemable with dollars by the month of June, through a Belize company.

Escobar Inc. CEO, Olof Gustafsson, declared that the plan was to raise a total of $50 million through the “ByeByeTrump” GoFundMe campaign. However, after the platform blocked the campaign, the decision was instantly taken to launch the ESCOBAR token.

Gustafsson declared:

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 or President Trump shut us down.

GoFundMe claims are not confirmed although a screenshot with $10 million already donated was offered by Escobar Inc.

What is interesting is that Roberto Escobar was openly described on another website as co-founder of the huge Medellin drug cartel, right alongside Pablo Escobar. Roberto was described as being the accountant that was responsible for dealing with over $100 billion, all profits.

The validity of this cryptocurrency is yet to be determined since Escobar Inc.’s history is not a good one. The company did launch another cryptocurrency, dietbitcoin. That one flopped.

It cannot be said if the cryptocurrency will do better than the last one. As a cryptocurrency investor, you need to be sure that you use due diligence before making any financial investment in any coin.

Image Editorial credit: Evan El-Amin / Shutterstock.com

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