Steve Bannon May be Eyeing a Move into the ICO Space

Not content with disrupting U.S. politics, Steve Bannon now wants to disrupt the financial system with a move into the crypto space.

Jun 14, 2018 at 3:00 p.m. UTC
Updated Sep 13, 2021 at 8:03 a.m. UTC

Not content with disrupting U.S. politics, Steve Bannon now wants to disrupt the financial system with a move into the crypto space, according to a new interview.

In a Bloomberg article published Thursday, Bannon – who was previously chief strategist for President Donald Trump and executive chairman of Breitbart News – told the news source that he has had meetings with investors and hedge funds about initial coin offerings (ICOs) in relation to his investment firm Bannon & Company.

However, he wouldn't discuss details of any plans over fears his controversial reputation could mar future projects.

Notably, the political-heavyweight-turned-investor also revealed he has a "good stake" in bitcoin, before restating his belief that the way cryptocurrency challenges the people and institutions in power is "disruptive populism."

He said:

"It takes control back from central authorities. It's revolutionary."

Although he has had an interest since at least as far back as 2016, Bannon's growing fondness for the technology become widely known after he left the White House in August 2017 – on a speaking tour last year  he said cryptocurrency and blockchain technology will bring "true freedom."

According to the article, Bannon has previously said he would like to help others to create their own cryptocurrencies, and has even touted the possibility of creating his own, called "deplorables coin" – deplorables being a term Hillary Clinton once used to describe his supporters.

Talking about notable figures in cryptocurrency, he said, "These guys are visionaries."

Steve Bannon image via Flickr/Gage Skidmore

The Festival for the Decentralized World
Thursday - Sunday, June 9-12, 2022
Austin, Texas
Save a Seat Now

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Trending

1
CoinDesk - Unknown
San Francisco NFL Player Alex Barrett Taking His Salary in Bitcoin

The most valuable crypto stories for Thursday, May 20, 2022.

The most valuable crypto stories for Thursday, May 20, 2022.

CoinDesk - Unknown
2
CoinDesk - Unknown
Justin Sun Still Thinks Algorithmic Stablecoins Are a Good Idea

The crypto mogul also said LUNA and UST might make good "meme coins," he said on CoinDesk TV’s “First Mover.”

The crypto mogul also said LUNA and UST might make good "meme coins," he said on CoinDesk TV’s “First Mover.”

CoinDesk - Unknown
3
CoinDesk - Unknown
Former BitMEX CEO Arthur Hayes Sentenced to 2 Years Probation

Hayes pleaded guilty to one count of violating the Bank Secrecy Act (BSA) in February, and faced a sentence of up to 12 months in prison.

Hayes pleaded guilty to one count of violating the Bank Secrecy Act (BSA) in February, and faced a sentence of up to 12 months in prison.

CoinDesk - Unknown
4
CoinDesk - Unknown
Market Wrap: Cryptos Decline Amid Choppy Trading, DeFi Tokens Underperform

Aversion to risk remains as volatility returns to stocks and cryptos.

Aversion to risk remains as volatility returns to stocks and cryptos.

CoinDesk - Unknown