- Balaji Srinivasan said so on the Impact Theory podcast
- He believes major countries can make a concerted effort to restrict the market for digital assets
- Cryptocurrency confiscation will follow, with tech companies helping the authorities
Former Coinbase CTO Balaji Srinivasan believes major tech companies are a threat to users of cryptoassets. In his opinion, giants such as Apple and Google may be “leaking” confidential information to the authorities.
He shared his views on the subject as part of a new episode of the podcast “Impact Theory.. View the full entry at the link.
“The biggest risk (to the user) is borne by Google, Microsoft, Apple because they have access to the operating system. In fact, that’s what worries me the most,” Srinivasan said. “At the order of the state, they can simply scan your hard drive for private keys and then confiscate crypto assets.”
Srinivasan believes that China and the G7 could take coordinated steps to suppress the cryptocurrency market. This will be followed by the seizure and confiscation of digital assets from users in order to minimize losses from economic shocks.
Another way forward is the implementation of CBDC. Srinivasan agrees with congressional Republicans on this point, as he too sees signs of a control tool in digital currencies.
The “point of ramification” will be whether countries can “crush” the crypto-asset sphere, says the ex-CTO of the exchange. If so, the cryptocurrency will be replaced by CBDC, otherwise the market will become similar to the “Wild West.”
It is not the first time Srinivasan expresses such extraordinary theories. Earlier he had made a bet that BTC would break the $1 million mark by mid-June.
Srinivasan prematurely terminated the agreement and paid the fee, noting that he did not regret losing, as he only wanted to get his message across.. On his Twitter page he declares the ideas of hyperinflation, economic apocalypse and total dictatorship of individual countries.