Eric Trump denies father’s connection to rugged RTR memecoin
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 buyers gasping after builders crashed the challenge.
The token launched on Aug. 8, and the main consensus stated Kanpai Labs, an NFT challenge, made it as a Trump memecoin. RTR climbed to a $150 million market cap in beneath 12 hours as a result of heavy social media promotions, referred to 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 publish 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 “big announcement,” which can be a real-world asset challenge, as crypto information reported. Amid the debacle, Donald Trump Jr. urged crypto buyers to remain vigilant in opposition to scammers, reminding the general public that solely the Trump household would reveal the genuine Donald Trump crypto play.
