The brother of infamous drug lord Pablo Escobar has plans to get US President Donald Trump impeached. After having its GoFundMe account allegedly shutdown, Escobar Inc has announced it will be launching its own stablecoin to fund the effort.
The Impeach Trump Fund crowdfunding campaign had its GoFundMe page taken down after just one day and is now relying on an initial coin offering (ICO) to raise its USD 50 million target. The stablecoin, ESCOBAR, will be pegged to the US dollar and Escobar Inc has hopes for it to become real competition for Tether which it claims to be ”untrustworthy”.
The stablecoin is an effort for the campaign to avoid any further censorship it would possibly be subject to on centralized platforms.
Escobar Inc told the Next Web that the GoFundMe campaign raised USD 10 million in the space of just ten hours, while they blame President Trump himself for the page being shut down.
All funds raised through the ICO will be directed either to the Impeach Trump Fund or for financing ”the ESCOBAR cryptocurrency”, according to Escobar Inc.
A whitepaper has been released for the stablecoin, which will apparently be built on the Ethereum blockchain.
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