Roberto Escobar, older brother of the late and world renowned Colombian drug dealer Pablo Escobar, will launch a ERC-20 stablecoin on the Ethereum platform. Roberto is conducting an initial coin offering (ICO) ostensibly in order to raise money for the stated purpose of impeaching US President Donald Trump.
The move to cryptocurrency comes after Roberto’s GoFundMe - called “ByeByeTrump” - campaign was apparently shut down. Roberto claims to have raised $10 million in so many hours using the funding website, in an attempt to raise $50 million overall. The Escobar family claims to have “dirt” on Donald Trump, according to Complex.
The token is called, fittingly, ESCOBAR (also the coin’s ticker symbol). The coin’s whitepaper states an eventual supply of one billion total ESCOBAR tokens, with an aspirational market cap (“Estimated at Launch”) of $1 billion. The ICO currently offers a steep discount.
Besides the objective of using the ICO money to impeach Trump, the whitepaper defines the coin’s other development goal as “other supportive measures to bring the coin to a success.” A milestone on the token’s roadmap says it will “begin widespread adoption as a valid payment option in stores and other online retailers” starting in August 2019.
This is not actually the first foray into cryptocurrency for Roberto Escobar, who earlier this year launched Diet Bitcoin (DDX).
Beyond the technical details, perhaps the most pressing question is: Why does the estate of Pablo Escobar want Donald Trump impeached? Besides the obvious reasons why one would want to impeach President Trump, there is essentially no further reasoning. The website dedicated to the task of impeaching Trump claims flatly that Trump is “the worst president the United States of America ever has had.”
The webpage also rather unabashedly emphasizes that “Roberto Escobar is the former Co-Founder of the Medellín cartel alongside his brother Pablo Escobar where Roberto used to be the accountant responsible for over $100 billion in profits.”
President Trump is currently in the throes of dealing with an investigation into allegedly illegal activity that he has committed both before his presidency, and during his election campaign.