Edward Snowden: Spot Bitcoin ETF Is a Form of TradFi Subjugation

It’s been just reported that Edward Snowden, the famous whistleblower hunted down by the US, has something extremely important and, at the same time, interesting to say about Spot BTC ETF. Check out the details below.

Edward Snowden, the well-known whistleblower, has expressed concern over a potential Bitcoin Exchange Traded Fund (ETF) that uses spot prices.

During his speech at the Bitcoin Amsterdam 2023 event, Snowden, a former contractor for the U.S. National Security Agency (NSA) and employee of the Central Intelligence Agency (CIA), cautioned against allowing traditional finance to have too much control over BTC.

“I think we need to remember that particularly in these moments of instability, that we are all part of a much bigger game, and Bitcoin is one of our strongest levers in that.

The systems that we are influencing, that we are exerting leverage on – payments and finance – will shape what the world of tomorrow looks like. Now we have to cross some hurdles to get there in a meaningful way.”

He continued and said the following:

“Right now the reason everybody’s getting excited about the price is they’re thinking about ETFs or whatever. We don’t really want that to be the thing that moves price, even if price is moving. Because that is a kind of subordination, that is a kind of subjugation that is a process of taming that we see being played out.”

Just to refresh your memory, the U.S. Securities and Exchange Commission (SEC) delayed decisions on a slew of spot BTC ETF applications, including BlackRock’s.

The other day, we revealed the fact that It seems that the price of Bitcoin exploded following fake news of BTC approval. Scott Melker details that the report came from CoinTelegraph. Check out our previous article in order to learn more details about this.