The world of crypto is always buzzing, but recently, a new token called Restore the Republic (RTR) took center stage, fueled by rumors surrounding the Trump family.
The Rise and Fall of RTR
The RTR token popped up on the Solana blockchain, and speculation quickly spread that it was linked to former President Donald Trump or his family. The rumor mill was ignited by a social media post from Eric Trump, who hinted at a “big announcement” about crypto and decentralized finance (DeFi).
The Trump name was enough to send investors into a frenzy. Within hours, over $155 million poured into RTR, causing its value to skyrocket. But the bubble burst just as quickly. A tweet from Eric Trump himself warned about “fake tokens” and clarified that the Trump family’s “official project” hadn’t been announced yet.
The Trump Family’s Crypto Ambitions
Rumors suggest that the Trump family’s crypto project could involve investments in Real World Assets (RWA), possibly under the name “World Liberty.” However, the official announcement is still pending.
The Aftermath: Denial and Accusations
Donald Trump Jr. quickly distanced his family from the RTR debacle, urging people not to associate any crypto project with the Trumps unless they hear it directly from them.
The creators of RTR, Kanpai Labs, have been accused of a “hard rug pull,” a type of crypto scam where developers abandon a project and run off with investors’ money. Kanpai’s founder, known as “Bags,” initially claimed the Trump family was behind the token and even chose the launch date, but later deleted the post and denied any involvement.
A Pattern of Trump-Themed Crypto Scams
The RTR incident isn’t the first time Trump-themed crypto has seen price spikes during periods of political optimism. Other memecoins like Super Trump (STRUMP) and MAGA (TRUMP) have also experienced similar trends.
This whole saga serves as a reminder that the crypto world is full of volatility and scams. It’s important to do your research and be cautious before investing in any crypto project, especially those fueled by hype and rumors.
