Stephen Bannon, formerly of Breitbart News and Trump’s White House, is interested in entering the cryptocurrency space.
Stephen Bannon, co-founder of Breitbart News and former Chief Strategist for U.S. President Donald Trump’s administration, is planning to enter the world of crypto, the New York Times reports today, June 14.
The New York Times reports that Bannon is currently planning his foray into the world of cryptocurrencies and Initial Coin Offerings (ICO). According to the Times, Bannon has held private meetings with both crypto investors and hedge fund managers about the possibility of issuing an ICO through his investment firm, Bannon & Company.
However, Bannon told the New York Times that he would not be specific about his crypto plans, as linking his constroversial reputation to projects could hurt their chances of success.
Bannon — who the Times reports has a “good stake” in Bitcoin (BTC) — ran alt-right, anti-establishment media outlet Breitbart News until January of this year. He also served in the Trump administration until his dismissal in August 2017, allegedly due to his critical remarks about the president in Michael Wolff’s book Fire and Fury.
Bannon reportedly first got interested in the crypto sphere through former child actor turned crypto entrepreneur, Brock Pierce, when Bannon was working as vice chairman of Pierce’s gaming company. Bannon told the New York Times that it was his job with the Trump campaign that prevented him from getting involved with Pierce and crypto back in 2016.
Timothy Lewis, the co-founder of the Ikigai crypto hedge fund, told the New York Times that he was “impressed” with Bannon’s knowledge of crypto technology when he met with him last month to speak about crypto and ICO government regulations:
“I didn’t know what to expect going in, but he had clearly done his homework.”
According to the New York Times, Bannon had previously brought up the idea of creating his own cryptocurrency this spring at Harvard, dubbed the “deplorables coin” in an homage to Hillary