Steve Bannon Working on his Own Cryptocurrency

Former advisor to US President Donald Trump, Steve Bannon, tells CNBC he owns bitcoin and is working on his own cryptocurrency.  SCROLL DOWN FOR MORE

"I like bitcoin. I own bitcoin," Bannon said during a wide-ranging interview at the Delivering Alpha conference in New York, presented by CNBC and Institutional Investor.

Bannon warned about ICOs, or initial coin offerings that take place when a creator brings new offerings to the market. Most, he said, have been disasters.

""Too many investors get blown out by things that aren't thought through," he said.

Bannon joked that his coin may be coined after the "Deplorables" reference from Hillary Clinton's 2016 Presidential campaign (forgive the bad pun).

Bitcoin and other cryptocurrencies now account for upwards of 80% of all online gambling transactions at Americas Cardroom, it was revealed to Gambling911.com last week.

- Aaron Goldstein, Gambling911.com