Famous whistleblower Edward Snowden believes the crypto community should be wary of spot-based Bitcoin (BTC) exchange-traded funds (ETFs).

Speaking at the Bitcoin Amsterdam 2023 event last week, the former US National Security Agency (NSA) contractor and Central Intelligence Agency (CIA) employee caution About the potential dangers of letting traditional finance gain control over top crypto assets.

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

The systems we are influencing, the systems we are leveraging on – payments and finance – will shape the world of the future. Now we have to overcome some hurdles to get there in a meaningful way.

The reason everyone is excited about the price right now is because they are thinking about ETFs or something else. We really don’t want that to be the thing that drives the price up, even if the price is going up. Because it is a kind of subjugation, it is a kind of subjugation, it is a process of subjugation that we see playing out.

US Securities and Exchange Commission (SEC) delayed decision Several spot BTC ETF applications, including BlackRock, in late September.

The deadline for the SEC to review an application, the ARK 21 Shares Bitcoin ETF, is January 10.

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