Elon Musk shocked the crypto community with his revelation that various US government agencies had full access to everything that was going on at Twitter, including direct messages (DMs). This disclosure sank BTC and Doge prices, with both cryptocurrencies now trading in the red. Musk also commented on the dangers of artificial intelligence (AI), which he believes has the potential to destroy civilization.
In an interview with Fox News, Musk reveals that the degree to which various government agencies had access to Twitter blew his mind. He also disclosed that under previous management, the US government was spying on users’ DMs. The crypto community was shocked to hear that government agencies are indeed spying on private messages on Twitter, with some believing that the government also has complete access to activity and DMs on other social media platforms like Facebook, Instagram, Telegram, and Google.
Many Twitter users compared Musk’s revelations to the illegal government surveillance exposed by Edward Snowden in 2013. Crypto influencer Matt Wallace claimed that the US government is almost near to implementing a China-like social credit monitoring system to spy on user activity online. Musk himself recently introduced his new AI company, X.AI, to rival OpenAI’s ChatGPT.
The crypto community was quick to react to Musk’s disclosure about US government agencies having access to Twitter user activity and DMs. Many Twitter users expressed their shock and outrage, with some comparing the revelation to the illegal government surveillance exposed by Edward Snowden in 2013. Crypto influencer Matt Wallace even claimed that the US government is close to implementing a China-like social credit monitoring system to spy on user activity online.
It is important to note that the disclosure has affected not only Bitcoin and Dogecoin prices but also other cryptocurrencies. All top cryptocurrencies fell after the news reached the crypto community. Bitcoin, for instance, fell to a 24-hour low of $29,816, breaking the psychological $30k barrier. Ethereum's price also dropped from $2,137 to $2,076, and Elon Musk’s favourite Dogecoin felt pressure from the news, dropping from a 24-hour high of $0.0915 to $0.0894, down 3% from the 24-hour high.
Elon Musk also commented on the dangers of artificial intelligence (AI) in an interview with Fox News. He believes that AI is “more dangerous than mismanaged aircraft design or production maintenance or bad car production” and has the potential to destroy civilization. His new AI company, X.AI, is positioned to rival OpenAI’s ChatGPT.
Musk's comments about AI are not new, as he has been warning about its potential dangers for years. His comments have always been controversial, with some experts agreeing with him, while others believe that the potential benefits of AI far outweigh its potential risks.
The disclosure by Elon Musk that various US government agencies had full access to Twitter user activity and DMs has had a significant impact on cryptocurrency prices. Bitcoin and Dogecoin prices, in particular, have dropped significantly, with Bitcoin falling below the psychological $30k barrier.
This recent drop in prices is a reminder of the volatility of the forex market. The forex market is highly sensitive to news and events, and prices can fluctuate rapidly in response to new information. Traders must be able to analyze the market and stay up-to-date on news and events to make informed trading decisions. Understanding the impact of events such as government disclosures on cryptocurrency prices is crucial for traders looking to succeed.