Inspired by an anti-Biden chant that recently became a trend across the United States, a cryptocurrency called the “Let’s Go Brandon Coin” ($FJB), saw its price skyrocket earlier this month. Gains from the newly-launched digital asset has so far already produced an amount of $50,000 that will be donated to our brave veterans. The coin, which is less than a month old and based on its humorous take on the iconic “Let’s Go Brandon” chant as well as its charitable efforts in aiding veterans in need, has gone viral.
CoinMarketCap reported that $FJB has a market capital of more than $55 million. This is a remarkable achievement for a brand new coin.
“What really drove me to do it was the donation factor. The best way to one: help out veterans that are being really mistreated and two: utilize this movement for better” stated Grant Tragni, the coin’s founder.
“Here we are 27 days later, $50,000 donated to charities around the world and have a community of almost 10,000 people, with people from multiple countries, And it’s really inspiring,” Tragni concluded.
On the other hand, former U.S. Secretary of State and failed Democrat presidential candidate Hillary Clinton, blasted cryptocurrencies, even stating that America should imitate China and ban these digital innovations.
“One more area that I hope nation-states start paying greater attention to is the rise of cryptocurrency because what looks like a very interesting and somewhat exotic effort to literally mine new coins in order to trade with them has the potential for undermining currencies, for undermining the role of the dollar as the reserve currency, for destabilizing nations, perhaps starting with small ones but going much larger,” Clinton said at the Bloomberg New Economy Forum in Singapore.
Clinton’s remarks came after the contentious crypto tax reporting stipulation, which was inserted in the massive infrastructure bill signed by U.S. President Joe Biden. The bill mandates that brokers disclose complete customer details and capital gains to the Internal Revenue Service starting in 2023. Crypto payments exceeding $10,000 will require entities to disclose the identity of the sender to the government.