What Is Potcoin? Dennis Rodman's North Korea Summit Trip Was Bankrolled By The Cryptocurrency

ByMonica Busch
Laura Cavanaugh/Getty Images Entertainment/Getty Images

As the North Korean summit is underway, one person not directly involved with diplomatic talks is getting a lot of attention, and for a very unusual reason. That person would be a former NBA player, who says he traveled to Singapore under the sponsorship of a cryptocurrency called Potcoin. Undoubtedly, you're wondering what Potcoin is and why Dennis Rodman's North Korea trip is wrapped up in it.

In short, Potcoin is a cryptocurrency, an alternative form of currency. If you don't know what a cryptocurrency is, think of bitcoin — something just about everyone has at least heard of by now. Potcoin is a similar concept, except that it's specifically related to the marijuana industry.

The folks behind Potcoin decided to bankroll Rodman's trip to Singapore, and it's not even the first time they've done so. As The Independent reports, they also paid for Rodman's 2017 trip to North Korea. Just like his trip to the reclusive "Hermit" state, Rodman showed up in Singapore sporting Potcoin's logo.

"Thanks to my loyal sponsors from @potcoin and my team at @Prince_Mrketing, I will be flying to Singapore for the historical Summit," Rodman tweeted on June 8. "I'll give whatever support is needed to my friends, @realDonaldTrump and Marshall Kim Jong Un."

Also according to The Independent, Potcoin expressed its enthusiastic support of Rodman and his mission. "We at Potcoin definitely believe that Dennis Rodman deserves the Nobel Peace Prize," it said in a statement.

As unusual as it may sound, Rodman actually has a storied history with North Korean Supreme Leader Kim Jong Un. He has traveled to North Korea to meet with him several times over.

"My mission is to break the ice between hostile countries," Rodman told Sports Illustrated of his visit back in 2013. "Why it's been left to me to smooth things over, I don't know. Dennis Rodman, of all people. Keeping us safe is really not my job; it's the black guy's [Obama's] job. But I'll tell you this: If I don't finish in the top three for the next Nobel Peace Prize, something's seriously wrong."

He also told the magazine that Kim confided in him that he didn't want to go to war with the United States. But Rodman also had something else to say. In the interview, he criticized President Obama for refusing to directly speak with Kim.

"His whole deal is to talk basketball with Obama," Rodman said. "Unfortunately, Obama doesn't want to have anything to do with him. I ask, Mr. President, what's the harm in a simple phone call? This is a new age, man. Come on, Obama, reach out to Kim and be his friend."

Rodman continued to make waves in Singapore on Tuesday, after Kim and Trump officially met for the first time. CNN featured him as a guest, which resulted in a lot of response online.

"I'm watching Dennis Rodman, wearing a MAGA hat, standing in Singapore, discussing matters of immense international political importance concerning North Korean/US relations on CNN," one Twitter user wrote. "It's a weird world we live in, folks."

During his segment with CNN's Chris Cuomo, Rodman grew emotional, lamenting that, according to him, President Obama wouldn't hear him out after he began visiting North Korea. At one point, he burst into tears.

"But that didn’t deter me," Rodman said. "I still kept going back. Kept going back. I showed my loyalty and my trustworthiness to this country. I said to everybody, the door will open."

Indeed, Rodman apparently has found himself living under a president willing to meet with Kim. But what happens next is anyone's guess.