The MAGA cryptocurrency $FJB, (officially Freedom Jobs Business, unofficially shorthand for “Fuck Joe Biden”) has fallen 95 percent in value in the past 13 months.
. The devalued digital currency has also reportedly become a hotbed for complaints from investors claiming mismanagement and broken promises by Bannon and Epshteyn.
According to a Dec. 2021 contract obtained by ABC News, Bannon and Epshteyn were granted “control, administration, and governance of the coin,” which allegedly reached a market cap of $90 million before their acquisition. Despite an initial spike following the Trump allies taking over the coin, the steady decline and lack of transparency has raised concerns that Bannon and Epshteyn have taken the money and run.
According to the report, $FJB promised significant returns to investors, and a commitment to send a portion of transaction fees to veterans groups and patriotic causes. Charities Bannon cited in his promotion of the coin, including the Wounded Warrior Project, claim they have not received any monetary gifts from $FJB, according to ABC News.
Claims that a significant portion of the funds intended for charity have gone “missing” have raised concerns that investors in $FJB have fallen victim to a scam. An administrator for the company messaged users on the $FJB Discord server, telling them that while the funds were not “stolen” they “did not go to the purpose they were intended for, and that’s as far as we’ll speak on,” according to ABC News. The same administrator later claimed that Epshteyn was “working on recovering our funds.
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