Steve Bannon, the former Chief Strategist of President Trump, once Trump’s close ally and advisor, and former Chairman of Breitbart News Network, seems to be having ideas on launching his own cryptocurrency.
Recently, in a small gathering of academics, Bannon is reported to have “floated the idea of launching his own cryptocurrency”, reports The New York Times. Much like President Trump, Bannon seems to enjoy thinking out loud, conducting brainstorming sessions in every conversation and spewing ludicrous ideas on the fly.
Bannon has already been reported as saying he has invested a ‘good stake’ in Bitcoin. He has also had private meetings with cryptocurrency investors and hedge funds, where he has discussed working on initial coin offerings [ICOs] through his investment business, Bannon & Company.
“It’s disruptive populism,” said Bannon in an interview.
“It takes control back from central authorities. It’s revolutionary. Control of currency is control of everything.”
His views mirror John McAfee’s, but while McAfee portrays himself as a paladin who fights to empower the masses. It would take a very creative business pitch to sell Bannon as a figure in the same mould.
Although the transformative power of cryptocurrencies and blockchain is recognized by a lot of people, they sometimes do receive bad press when certain unsavory characters openly embrace them for exactly the wrong reasons.
Mr. Bannon’s planning is only in its preliminary stages, but he may be laying the groundwork for helping entrepreneurs and even foreign countries create their own cryptocurrencies. The realm of cryptocurrencies draws into it people from all walks of life, from drug dealers to Wall Street white collars.
While Bannon has no intention of moving into the spotlight in Washington politics after Michael Wolff’s explosive, ‘all-revealing’ book “Fire and Fury”, championing the cause of Bitcoin reeks of political intent. The part of cryptocurrencies that Bannon seems most interested in, the ICOs and new digital token creations, is also the least transparent, and most easily scammed, part of the entire business.
Colin Platt, a cryptocurrency researcher, does not mince words and is reported by the NY Times to have said:
“It almost seems like a natural progression for a man who gained prominence by shoveling out unfounded conspiracies to now shilling complex technology and financial instruments to an unsophisticated investing public.
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