- Elon Musk reveals US govt agencies had access to Twitter DMs, leading to a fall in Bitcoin and Dogecoin prices.
- Crypto Twitter reacts to the news, comparing it to Edward Snowden’s 2013 revelations of illegal government surveillance.
Elon Musk, the CEO of Twitter, recently disclosed in an interview with Fox News that various US government agencies have full access to Twitter user activity, including direct messages (DMs). This news has sent shockwaves through the crypto community and caused the prices of Bitcoin and Dogecoin to fall.
The revelations by Musk that government agencies have access to user data on Twitter have caused concern among crypto enthusiasts. Many believe that this is a violation of privacy and a breach of the trust placed in social media companies to protect their users’ information.
The degree to which various government agencies effectively had full access to everything that was going on at Twitter blew my mind.
The crypto community’s reaction to this news was swift, with many comparing it to the illegal government surveillance exposed by Edward Snowden in 2013. Some crypto influencers have also claimed that the US government is moving towards implementing a China-like social credit monitoring system to spy on user activity online.
The news has had a significant impact on the cryptocurrency markets, with Bitcoin and Dogecoin prices plummeting after the revelation. Bitcoin’s price fell below the psychological barrier of $30,000 and dropped to a 24-hour low of $29,816. Ethereum, the second-largest cryptocurrency, also saw a decline in its price, falling from $2,137 to $2,076.
Dogecoin, a favorite of Elon Musk, also felt the pressure from the Twitter privacy news and fell from a 24-hour high of $0.0915. Currently, DOGE is trading at $0.0894, down 3% from its 24-hour high.
While many in the crypto community are outraged at the news of government surveillance, some experts believe that this revelation was not entirely unexpected. Social media companies have long been criticized for their data collection practices, and many believe that the government has access to more user data than previously thought.
As the crypto industry continues to grow, the issue of privacy and security will become more critical. Users will demand better protection for their data, and companies will need to take steps to ensure that their users’ information is secure.
Elon Musk just said the US government had full access to Twitter user activity, including spying on users’ DMs under previous management.
This is almost as bad as the illegal government surveillance Edward Snowden exposed in 2013.
— Chairman (@WSBChairman) April 16, 2023
In conclusion, the recent revelations by Elon Musk that US government agencies have access to Twitter user data, including DMs, have caused concern among the crypto community. This news has had a significant impact on the cryptocurrency markets, with Bitcoin and Dogecoin prices falling as a result. As the crypto industry continues to grow, privacy and security will become more critical, and companies will need to take steps to ensure that their users’ information is secure.
FREEDOM ALERT: Elon Musk Confirms US Government is Pushing Closer to Implementing a China-like Social Credit Monitoring System 🚨https://t.co/cdOQlDI2B7
— Matt Wallace (@MattWallace888) April 17, 2023