Within weeks, the currency’s value soared. Bannon and Epshteyn, two original architects of Donald Trump’s political operation, promoted it relentlessly on social media and on Bannon’s hit podcast, positioning it as a rejection of President Joe Biden and an alternative currency for conservatives that would support job creation and regularly donate to charities.
The name of the coin itself sought to capitalize on political divisions; dubbed $FJB, the currency takes its name from the shorthand version of the vulgar MAGA expression “F— Joe Biden.”
“We are now saying, ‘Screw Joe Biden,” Bannon said on his War Room podcast shortly after announcing his acquisition of the $FJB operation in December 2021. “It shows your total and complete independence … you’re going to very quickly have non-reliance on their financial system.”
❋ The cryptocurrency has lost 95% of it’s value
❋ There are allegations that representatives have made false promises to donate portions of the coin’s proceeds to the Wounded Warriors Project, St. Judes and others.
Before long, Bannon and Epshteyn attracted other big-name Trump allies to help promote the project, including far-right commentator Jack Posobiec and former New York City Police Commissioner Bernard Kerik, according to $FJB’s official website.
MAGA supporters flocked to purchase the currency, and the coin’s value quickly quadrupled.