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Donald Trump's second son has denied any connection between the Trump family and a viral symbol called “Restore the Republic.”
Another day, another rug pull. A Restore The Republic (RTR) token, rumored to be Trump’s official cryptocurrency, left speculative investors gasping for air after developers botched the project.
The token was launched on August 8 and the main consensus was that Kanpai Labs, an nft project, turned it into a Trump memecoin. RTR rose to a market cap of $150 million in less than 12 hours due to heavy promotions on social media, known as shilling on web3.
Within minutes, it plummeted below $10 million in an apparent attempt to cash in on the Solana (SOL) blockchain. RTR's drop coincided with Eric Trump's post about the x x.com/EricTrump/status/1821606887806406671″ target=”_blank” rel=””>denying His father was involved.
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Several Trump-related meme coins have started this cycle, especially as an intersection between American politics and cryptocurrencies has emerged. Most of these tokens have plummeted, like countless other meme coins this year.
Trump is also expected to share a “big announcement””, which may be a real-world asset project, as cryptocurrency news reported. Amid the debacle, Donald Trump Jr. urged Cryptocurrency investors should remain vigilant against scammers and remind the public that only the Trump family will reveal Donald Trump's true story on cryptocurrencies.
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