Brother of Pablo Escobar Sells His Own Cryptocurrency to Donald Trump

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Roberto Escobar, brother of late drug baron Pablo Escobar, has founded a new cryptocurrency called ESCOBAR. The sale of this stablecoin is intended to finance the impeachment of US President Donald Trump.

Colombian Pablo Escobar was perhaps the richest drug lord of all time, but he was certainly the most notorious. By the cocaine trade of his Medellín cartel, he ransacked millions of dollars until his violent death in 1993. Roberto Escobar, the elder brother, and accountant of the criminal empire served a good 10-year prison sentence and has now joined the crypto industry.

ESCOBAR Stablecoin for the removal of Donald Trump

Last week, his company Escobar Inc. launched a fundraising campaign via the crowdfunding site GoFundMe. The declared goal was to collect $50 million, triggering impeachment proceedings against US President Donald Trump. As Escobar Inc ‘s CEO Olof Gustafsson told tech news site The Next Web they had already raised ten million dollars within ten hours. The fundraiser was deleted by GoFundMe.

The brother of “Don Pablo” quickly changed the strategy and announced the sale of an ERC-20 token called ESCOBAR. As the website of the cryptocurrency explains, it will be a stablecoin, representing the US dollar one to one.

Tether (USDT) is already a much-used stablecoin. Last year, many more were founded. For example, the Gemini Dollar (GUSD). So what is the unique selling point of the new token? The site explains this as follows:

“The main difference between ESCOBAR tokens and competitors like USDT is that ESCOBAR is issued by a reputable firm, by a reputable family led by Pablo Escobar’s brother Roberto Escobar.”

Already Roberto Escobar’s second coin

Between March and May of last year, Roberto Escobar had already conducted an ICO and sold Diet Bitcoin (DDX), allegedly “a faster, easier alternative to Bitcoin (BTC)”. The coin is still listed on the Exchange Instant Bitex, but there is virtually no more trading and DDX is worth only 0.006 US dollars (according to the NewsBTC, the issue price was $2).

In addition, in May and June 2018, the ICO of a certain Escobarcoin (ESCO) took place, which allegedly wanted to use the “Blockchain for electronic health records, digital insurance & pension”. However, Roberto Escobar is not mentioned on the website or in the white paper, so the name similarity may be a coincidence. Since the Coin so far apparently at no Exchange was listed and its Twitter account is inactive since June, the project was apparently abandoned.

Author: Marko Vidrih @cryptomarks

Image via Shutterstock

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