Former advisor to Donald Trump plans to issue a cryptocurrency for the populist movement | CriptoNews

Former advisor to Donald Trump plans to issue a cryptocurrency for the populist movement | CriptoNews

Steve Bannon, former chief strategist of the White House during the current presidency of Donald Trump, recently spoke about launching his own cryptocurrency.

As shown in an interview CNBC last Wednesday, the former adviser and media entrepreneur confessed that he likes and owns some bitcoins, but not Ethereum or other crypto-active, live from the conference Delivering Alpha, held in New York. In addition, Bannon said that 90% of ICOs "have been a disaster."

"We are working on some pieces for the populist movement globally, but they will have to be of quality . Many investors have been deceived by the promises, but [las criptomonedas] are the future, "he said, without revealing many details about his plans to venture into the world of cryptocurrencies.

While Bannon has been rated by Donald Trump as a libertarian, the adepts to this political current place him in the right-wing populist and nationalist, due to his support to various right-wing political parties around the world, such as the National Front of France, the Alternative for Germany and the League of Northern Italy.

During the month of June, The New York Times reported on Bannon's intentions to support the issuance of a cryptocurrency, detailing that has been meeting with investors and funds of risk to work in Initial Currency Offers (ICO), although now he stressed that most of these crypto-financial events fail.

Apart from stating that you In important positions in bitcoin, he joked about issuing a "deplorable coin", in reference to the description made by Hillary Clinton, his political rival, about those who support Donald Trump.

On the other hand, Just this month, Donald Trump signed an executive order to create a workforce that provides advice to the various state institutions in the investigations against cryptocurrency fraud a high level measure to address these issues that they have already been detected and supervised by other entities such as the Securities and Exchange Commission of the United States, which has reservations about ICOs, but has not proposed prohibiting them.

However, the perception of ICOs has changed a lot since its boom took place during the year 2017. According to a study by the School of Management of Boston College, 56% of the projects that make Initial Offers of Coins disappear four months after launching its cryptoactive, a very worrying figure because these projects would have managed to raise millions of dollars in funding.

Featured Image by Voice of America