Steve Bannon's cryptocurrency in 'chaos' after losing 95 percent of its value: report

Trump ally Steve Bannon two years ago heavily promoted his own brand of cryptocurrency that he said would be a boon for MAGA supporters everywhere.

However, ABC News reports that the "FJB" ("F*ck Joe Biden") cryptocurrency hyped by Bannon back in 2021 has been plunged into "chaos" and has lost 95 percent of its peak value.

What's more, some investors in the cryptocurrency say that Bannon and partner Boris Epshteyn have broken their promises to donate money made from the coin to the Wounded Warriors Project and other nonprofit organizations.

"Prior to its acquisition by Bannon and Epshteyn, the original $FJB developers had already made a $10,000 donation to the nonprofit Wounded Warriors veterans' service organization -- and the two Trump allies said they would expand on that," writes ABC News. "But according to a spokesperson of the Wounded Warriors Project, as of January this year, no donations have been made by $FJB to the organization since Bannon and Epshteyn took over in December 2021."

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The lack of donations to the Wounded Warriors Project is particularly concerning because Bannon and Epshteyn are still charging 8 percent transaction fees to buyers of the coin -- and those fees are ostensibly supposed to go to the charity.

Bannon is already under indictment by the Manhattan District Attorney's Office for his alleged role in defrauding Trump supporters by skimming donations from the "We Build the Wall" crowdfunding operation.

Bannon was originally indicted on federal charges for the "We Build the Wall" scheme but he was subsequently pardoned by former President Donald Trump.