Edward Snowden, the former National Security Agency contractor, took a dig at JP Morgan CEO Jamie Dimon on Wednesday following the Securities and Exchange Commission (SEC) approval of a Bitcoin (CRYPTO: BTC) ETF.
What Happened: Snowden in a tweet on X said, “Wild how the SEC approving a Bitcoin ETF was all it took to transform the CEO of JPMorgan from the King of Money into that guy who spends one half of every interview insisting “I don’t care about Bitcoin,” and the other half sobbing that it stole his wife and shot his dog.”
Wild how the @SECGov approving a #Bitcoin ETF was all it took to transform the CEO of @JPMorgan from the King of Money into that guy who spends one half of every interview insisting “I don’t care about Bitcoin,” and the other half sobbing that it stole his wife and shot his dog.
— Edward Snowden (@Snowden) January 17, 2024
Snowden’s response comes after remarks made by Dimon at a conference in Davos, where the JP Morgan CEO described Bitcoin’s alleged use cases as “AML, fraud, sex trafficking and tax avoidance.”
“I defend your right to do Bitcoin,” added Dimon.
It should be noted that a month ago, Dimon in Congressional testimony urged Senator Elizabeth Warren to “close it down.”
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Why It Matters: Dimon, determined to avoid ongoing debates about the digital currency, said, “This is the last time I ever talk about this.”
He also underlined the distinction between two categories of cryptocurrencies: those with “embedded smart contracts” designed for transactions such as purchasing real estate or swapping data—acknowledging their potential value—and the sort designed for “tokenizing things that you do something with.”
For the other category, he said the cryptocurrency is like a “pet rock” that “does nothing.”
Last week, Snowden on SEC approving BTC ETFs posted on X, “Bitcoin ETFs were (finally) just approved for trading tomorrow, after ten years. Maybe the politics in Congress around cryptocurrency will get better once they realize it’s backstopping pension funds and retirement accounts.”
Photo via Wikimedia
Price Action: At the time of writing, BTC was trading at $42,662 down 0.15% in the last 24 hours, according to…
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