This article was published on June 14, 2018

Ousted by Trump administration, Bannon looks towards cryptocurrencies

'Deplorables ICO' might become a reality soon

Ousted by Trump administration, Bannon looks towards cryptocurrencies
Neer Varshney
Story by

Neer Varshney

Former TNW writer

Things have not been going Stephen Bannon’s way lately. He got ousted from the Trump administration in August last year and from far-right publication Breitbart News in January this year. But it appears he has a new masterplan to make a grand comeback.

A report from the New York Times (NYT) indicates that the former President Trump’s Chief Strategist is now betting on cryptocurrencies. He already has a ‘good stake’ in Bitcoin and plans to help companies — even, countries —  create new virtual currencies of their own.

Bannon didn’t reveal his exact plans with cryptocurrencies to NYT — fearing his controversial status may badly impact ‘projects just getting off the ground,’ but left multiple cues.

Among other things, Bannon seems to be exploring the realm of initial coin offerings (ICOs).

Bannon’s comments further indicate that he is not giving up on politics any time soon. In fact, he sees cryptocurrencies as a tool to gain power. Bannon told NYT:

It’s disruptive populism. It takes control back from central authorities. It was pretty obvious to me that unless you got somehow control over your currency, all these political movements were going to be beholden to who controlled the currency. Control of the currency is control of everything.

Bannon was reportedly introduced to the cryptocurrency realm by none other than Brock Pierce, the man behind the controversial cryptocurrency EOS.

Calling Pierce a “visionary,” Bannon suggested that he would have gotten involved with him in cryptocurrencies much earlier — in 2016 — if not for his role in Donald Trump’s presidential campaign.

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