Just when you think the crypto space includes every type of coin imaginable, along comes one with a name that may give you jolt - or a good laugh.
This time it comes from former Donald Trump aide Steve Bannon, who’s bandying about the idea of creating a coin called Deplorable. If you recall, that’s the name former presidential candidate Hillary Clinton called Trump’s supporters during her failed campaign.
Let’s discuss
Basket of deplorables
The word deplorable was ironically embraced by Trump supporters after Clinton used the degrading term to describe them in her bid to become president. She called them a basket of deplorables, to be exact.
Just as Trump supporters embraced the insult and used it to their advantage in turning out the vote for Trump, Bannon seems to be embracing it as a means to get back on the radar screen.
He had an extensive interview with the New York Times, in which he said his next venture entailed Bitcoin, and of all the names to choose for it, he chose deplorable.
Is he serious?
On its surface, the idea of a coin named after one of the most hotly debated terms used during a political campaign, seems absurd.
However, Bannon conveyed that he was dead serious. He said that he’d met with crypto investors and hedge funds to discuss holding an initial coin offering. His idea is to hold the ICO through his own investment business, which is called Bannon & Company.
In the Times article, it is noted that this was his first interview on the topic, and that he said he had a “good stake” in Bitcoin.
In the article, it’s noted:
His vision for virtual currency has elements of his unorthodox ideology. He sounds like both an avowed libertarian who wants government out of his life and a progressive who wants Wall Street held to account when he insists that virtual currencies can help citizens take back power from the central banks that “debase your currency” and make citizens “slaves to debt.”
The Times failed to mention how the proceeds from any ICO held by Bannon would be used, if they even asked him.
This article appeared first on Cryptovest
