US President 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. One of the coins, Restore The Republic (RTR), rumored to be Trump’s official cryptocurrency, has left speculators in shock after developers caused the project to collapse.
The token was launched on August 8, and leading consensus says Kanpai Labs, an NFT project, has positioned it as a Trump memecoin. RTR surged to a market cap of $150 million in less than 12 hours due to heavy social media hype, known as shilling in web3.
Within minutes, the coin collapsed to less than $10 million in an apparent run on the Solana (SOL) blockchain. RTR’s drop coincided with Eric Trump’s post on X denial His father was involved.
Several Trump-linked meme coins have kicked off this cycle, especially as the intersection of US politics and cryptocurrencies has emerged. Most of these tokens have collapsed, like countless other meme coins this year.
Trump is also expected to make a “huge announcement.”“Which could be a real-world asset project,” crypto news reported. Amid the debacle, Donald Trump Jr. urged Cryptocurrency investors are urged to remain vigilant against scammers, reminding the public that only the Trump family will expose Donald Trump’s true crypto game.