Roberto Escobar, the former operator of the Medellin cartel and the brother of the late drug lord Pablo Escobar has launched an initial coin offering for a dollar pegged stablecoin. Roberto Escobar is directly targeting Donald Trump in his crowdfunding campaign and is targeting a whopping $50 million investment.
The crowdfunding is being promoted on the official Impeach Trump Fund website which reads that Roberto Escobar is now accepting donations to impeach President Donald Trump in 2019. The website has also posted content starting Donald Trump has the worst president that the United States of America has had. The donation can be made by buying the ESCOBAR stablecoin on the website https://escobartrump.org/. The Escobar ICO also claims that USDT or Tether is not a trustworthy stablecoin and Escobar Stablecoin is planning to compete with USDT. They are also claiming that Donald Trump had ordered GoFundMe to close down their funding after they had received $10 million investment. Olof Gustafsson, the CEO of Escobar Inc, the company running the ICO and the stablecoin told Hard Fork that earlier their aim was to raise $50 million using GoFundMe platform but their funding was shut down b the website. Just within 24 hours of being shut down, they launched the ESCOBAR stablecoin for avoiding anyone to censor them again.
ESCOBAR stablecoin whitepaper:
The whitepaper of the ESCOBAR stablecoin reads that 1 billion ESCOBAR tokens (ERC 20) shall be issued on the Ethereum Blockchain. The tokens shall be pegged with US dollar and will be redeemable through an entity registered in Belize.
The COO of Escobar Inc, Daniel Reitberg said that they had plans to launch the ESCOBAR stablecoin in 2019 and is they are insisting people to use their stablecoin. He also added that they don’t trust Tether and that Roberto Escobar has had a wonderful career in his lifetime making hundreds of billions of dollars.
Roberto Escobar had earlier tried launching Diet Bitcoin: A bitcoin hard fork in March 2018. The Diet Bitcoin website read that bitcoin needed an alternative as CIA was about to destroy bitcoin.