Donald Trump’s second son debunked any connections between the Trump household and a viral token dubbed “Restore The Republic.”
One other day, one other rug pull. One Restore The Republic (RTR) token, rumored to be Trump’s official cryptocurrency, left speculative traders gasping after builders crashed the mission.
The token launched on Aug. 8, and the main consensus mentioned Kanpai Labs, an NFT mission, made it as a Trump memecoin. RTR climbed to a $150 million market cap in below 12 hours because of heavy social media promotions, generally known as shilling in web3.
Inside minutes, it crumbled beneath $10 million in an obvious rug pull on the Solana (SOL) blockchain. RTR’s nosedive coincided with Eric Trump’s X submit denying his father was concerned.
A number of Trump-related memecoins have launched this cycle, particularly as an intersection between U.S. politics and cryptocurrencies emerged. Most of those tokens have crashed, like numerous different memecoins this yr.
Trump can also be anticipated to share a “enormous announcement,” which can be a real-world asset mission, as crypto information reported. Amid the debacle, Donald Trump Jr. urged crypto traders to remain vigilant towards scammers, reminding the general public that solely the Trump household would reveal the genuine Donald Trump crypto play.
