A cryptocurrency called Restore the Republic (RTR) has witnessed a dramatic rise and fall, despite trading for less than a day, due to confusion over its origin. When the token emerged on the Solana blockchain Thursday, it was quickly associated with former president Donald Trump's son Eric Trump, who had posted on X earlier in the week: "fallen in love with Crypto / DeFi. Stay tuned for a big announcement.”
Rumors began to swirl online that RTR could be the teased "announcement." Ryan Fournier, chair of Students for Trump, posted: "rumor has it that the official trump coin is out...called Restore the Republic." As rumors snowballed, crypto and MAGA enthusiasts alike poured over $155 million into the currency within six hours of trading, causing the value to spike over 120%, according to CoinGecko data.
