Technology

OpenAI CEO Slams U.S. Government’s ‘War’ on Bitcoin and Crypto – Crypto News

Published

2 years ago

October 8, 2023

Dripp

Sam Altman, the CEO of OpenAI and the driving force behind the popular ChatGPT application, has openly expressed his disappointment and deep concern regarding the U.S. government’s unfavorable stance towards Bitcoin and cryptocurrency. Altman strongly believes that this ongoing attitude reflects a government’s desire to exert control over a global currency beyond its jurisdiction.

Altman’s Views on Crypto and CBDCs

During a podcast with Joe Rogan, Altman expressed his perspective on crypto. He conveyed feelings of sadness regarding the state of the country and voiced concerns about the potential extent of surveillance. Altman strongly opposed central bank digital currencies (CBDCs), fearing that they could enable governments to monitor and restrict individuals’ purchasing power.

“I’m disappointed that the U.S. government has done recently, but the war on crypto, which I think is a, like, we can’t give this up, we’re going to control [bitcoin and crypto] makes me quite sad about the country,” Altman said.

In contrast, he expressed excitement about bitcoin, considering it a significant and logical advancement in technology towards achieving a global currency independent from any government. Rogan shared Altman’s optimism, stating that Bitcoin appeared to have the greatest potential for becoming a universally accepted currency.

U.S. Government’s Crackdown on Bitcoin and Crypto

The U.S. government stands accused of cracking down on bitcoin and crypto companies by imposing stringent regulations and tax rules on the industry. As a result, the momentum of the bitcoin price has waned after its significant surge during the first half of 2023.

Nevertheless, some analysts harbor predictions of a substantial rally leading to next year’s historical bitcoin halving. Additionally, U.S. lawmakers and regulators have engaged in discussions regarding the creation of a so-called digital dollar CBDC. However, Federal Reserve chair Jerome Powell maintains that such technology is still distant on the horizon.

Altman’s Involvement in Worldcoin

Altman has received criticism from the Bitcoin community due to his involvement in Worldcoin, a controversial crypto project with the goal of creating a database of individuals by scanning their eyes in exchange for the cryptocurrency WLD.

Although the project claims to be a social experiment aimed at promoting equitable wealth distribution, concerns have been raised regarding privacy and security risks associated with the collection of biometric data.

Altman defended Worldcoin by affirming its legitimacy and noble vision. He clarified that his role was limited to that of an advisor and investor, without involvement in day-to-day operations.