Steve Bannon mulls token for new movement

July 19, 2018
Chris Wheal

Ex-chief strategist for Donald Trump, Steve Bannon, has again confirmed he may invest in his own cryptocurrency. Bannon suggested the move – he previously raised the idea in June – at a Delivering Alpha conference hosted by CNBC and Institutional Investor in New York.

Bannon indicated he is considering issuing a “deplorables” token, in reference to Hillary Clinton’s unflattering description of President Trump’s supporters in the run-up to the 2016 election.

Steve Bannon may be readying his own ‘deplorable’ utility token

Bitcoin stake confirmed

Previously Bannon has been a robust supporter of cryptocurrencies in interviews, citing their potential for freedom, independent of central bank control – and freedom from so-called financial ‘elites’ in general.

“It was pretty obvious to me,” the  New York Times quoted Bannon last month, “that unless you got somehow control over your currency, all these political movements were going to be beholden to who controlled the currency.”

The ex boss of right-wing media outlet Breibart confirmed he owns bitcoin – a “good stake”. 

The notion of a currency divorced from mainstream organisations and monetary systems has been a dream of rising numbers of right-wingers, attracting a measure of anti-Semitic conspiracy theory at points also.  

Post written by Chris Wheal
Chris Wheal is editor of OpenLedger's news and features service. An award-wining business journalists himself, he runs a team of freelance journalists from across the UK and north America.

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