(RoyalPatriot.com )- According to a report, when former White House strategists for Trump, Stephen Bannon, and Boris Epshteyn, acquired control of a cryptocurrency branded with the MAGA acronym in December 2021, it seemed the initiative would succeed.
A cryptocurrency market that was blazing hot has created favorable conditions for significant rewards. In addition, the two well-known Trump allies rapidly capitalized on the massive following they had to pull in many customers in a sector dependent on marketing expertise.
The report explains the value shot up in only a few short weeks. It was promoted on social media and Bannon’s War Room, presenting it as a rejection of President Biden and an alternate currency that would encourage the development of jobs and routinely give to charitable organizations.
The currency is called $FJB and gets its name from the abbreviated form of the obscene slogan “F Joe Biden.” It was designed to capitalize on the political divide.
The digital currency has hit rock bottom and is struggling to recover.
$FJB, which is now reported to mean “Freedom Jobs Business,” experienced a decrease in value of 95%—at least partly owing to a slowdown that affected the whole business.
The report reveals that some of those who claim to have purchased the coin are taking to social media to air their grievances regarding the management of the fund as well as allegations that the leadership and representatives of the coin have made false promises.
A rising fear among those who identify themselves as purchasers is that Boris Epshteyn and Steve Bannon may have, in effect, abandoned the project, which is adding insult to injury given the coin’s mediocre performance.
[Planet Compliance estimates that thousands of cryptocurrencies have failed to compete, but some companies can speak to the appeal that the introduction of electronic cash has brought. Unfortunately, the duration of cryptocurrency value can be limited, and as a result, many individuals are vulnerable to suffering losses.