Altcoins Initial Coin Offering

The ESCOBAR: The New Stablecoin Aiming to Impeach President Trump

CryptoChats - Pablo Escobar

The late Pablo Escobar will go down in history as one of the world’s most famous drug lords of all time. His legacy of causing political upheaval is continued on by his brother and Escobar Ind.

TNW’s Hardfork online publication released an article earlier today stating that Escobar Inc. has created their own ICO with the goal of impeaching president Trump.

The ICO was created in a matter of hours as Escobar Inc. didn’t want to lose the momentum and attention they had gathered on GoFundMe. Two days ago a GoFundMe campaign was set with a $50 million dollar goal, by Escobar Inc. for the impeachment of president Trump. The campaign quickly gained popularity and raised $10 million dollars in a matter of ten hours.

The campaign was then mysteriously shut down, presumably by president Trump.

“Originally the goal was to raise $50 million just using the GoFundMe platform,” Olof Gustafsson,the CEO of Escobar Inc. told Hard Fork. “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.”


The token has so eloquently been named the ESCOBAR. You can learn more about this new stablecoin by reading their whitepaper which goes over the technical details of the sale and how the money raised is going to be used.

The ESCOBAR is an ERC-20 token with the maximum number of tokens ever to be issued vie the Ethereum blockchain  is 1 billion tokens. As previously mentioned, the token is set to be a stablecoin tied to the value of the US dollar. The firm handling the financial establishment and tie of value for the ESCOBAR is a little known firm in Belize.

The move to an ICO was no doubt chosen so that there could no longer be any third party interaction to further censor or hinder the campaign.

GoFundMe has not yet responded to inquiries regarding the campaigns shut down.

Why a Stablecoin?

Ecobar Inc. already had plans to launch a stablecoin in 2019 but had not just yet planned to due so, but due to circumstances they accelerated their plan. The ultimate goal of the stablecoin is to rival Tether, on top of impeaching Trump.

Why take down Tether?

Because according to Escobar Inc., Tether is ‘untrustworthy’.

“Yes, we had plans to release this cryptocurrency in 2019 as a stablecoin alternative to the USD Tether. We do not trust the USDT,” Daniel Reitberg, COO of Escobar Inc. “We think that people should use our coin, as we have a much larger business sense than most other companies out there and Roberto Escobar has made hundreds of billions of dollars throughout his career.”

During the interview with Hard Fork Reitburg continues on to state that all fund raised will be equally split towards further developing the ESCOBAR and impeaching President Trump.

What do you think? Do you trust the ESCOBAR more than you trust USDT?

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