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Haider Jamal

Oct 08, 2023

The U.S Is Threatening The Freedom Of Crypto, According To OpenAI CEO

OpenAI CEO Sam Altman recently defended cryptocurrencies in light of the challenges they have encountered this year, particularly the heightened scrutiny by the U.S. government. Despite Bitcoin showing an impressive performance in the first half of 2023, its momentum has been somewhat hindered.

 

A Harsh Environment

Altman, a visionary in the field of artificial intelligence (AI) and the driving force behind OpenAI, has expressed his concerns regarding the aggressive stance of the U.S. government towards cryptocurrencies. He believes that the overly restrictive actions imply a larger agenda to establish control over the crypto industry.

Sam recently expressed his disappointment with the approach taken by the U.S. government. He mentioned that these recent developments, particularly an overall forceful stance on crypto, highlights an underlying intention to dominate and manage the crypto sphere. He also discussed the potential risks associated with an increasingly intrusive surveillance state, especially concerning financial transactions.

 

CBDCs May Not Be The Answer

Additionally, Sam is hesitant about the possible implementation of central bank digital currencies (CBDCs), viewing them as instruments that could magnify state authority over individual financial liberties.

The concept of a digital dollar CBDC has been a topic of conversation among U.S. regulators for quite some time. Nevertheless, Jerome Powell, the Federal Reserve chair, believes that the realization of such technology remains a distant prospect.

Despite facing criticism by the crypto community due to his involvement with the Worldcoin project, which aims to create a user database using eye scans in exchange for its cryptocurrency, Altman maintains his optimism regarding Bitcoin. He sees the idea of a global decentralized currency as a pivotal technological advancement, and one that is desperately needed in this financial age.

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