Snowden Critiques Solana, Bitcoin Surpasses $79K, and FTX Targets Scaramucci
Catch up on the key developments shaking the crypto world today—from Bitcoin’s new price highs to critical comments on blockchain decentralization and legal battles involving FTX.
🔒 Snowden Slams Solana’s VC Influence, Calls for Decentralization
In a talk at the Near Redacted conference in Bangkok, Edward Snowden, the renowned privacy advocate, criticized Solana’s heavy venture capital (VC) backing. He described it as “born in prison,” implying that such financial involvement can limit a blockchain’s independence. Despite recognizing Solana’s growth, Snowden highlighted the risks of concentrated ownership and emphasized the importance of decentralization to counter surveillance and AI-powered data collection.
His warnings extended beyond crypto, touching on how AI could enable large-scale, real-time data analysis, potentially amplifying surveillance capabilities by both corporations and governments.
🚀 Bitcoin Soars Past $79,000 Amid Market Optimism
Bitcoin’s price made history today, surging beyond $79,000 for the first time. The landmark was reached at 05:00 UTC on Coinbase, amid a week of significant gains following Donald Trump’s reelection as U.S. president. Analysts, including Tuur Demeester, advised investors to stay calm and hold, remarking, “$79k Bitcoin, new ATH. Steady folks, this is just the beginning.”
Crypto voices on social media expressed excitement, with Invest Answers tweeting “We’re taking off,” and crypto commentator Rain declaring, “We are so back.”
🏛️ FTX Sues SkyBridge Capital and Anthony Scaramucci
In the legal arena, FTX’s bankruptcy estate filed a lawsuit against SkyBridge Capital and its founder, Anthony Scaramucci, seeking to recover $67 million plus damages. The dispute involves an investment agreement allegedly violated by SkyBridge, which sold part of the assets linked to a 2022 deal.
This lawsuit is part of a series of legal moves by FTX, including a separate case against Crypto.com to reclaim over $11 million in funds. The recent actions highlight FTX’s aggressive push to recover assets after its collapse under former CEO Sam Bankman-Fried.
🔮 What’s Next?
As Bitcoin’s bullish run continues, and influential figures like Snowden call for greater decentralization, the crypto industry is facing rapid changes and regulatory challenges. The outcome of ongoing lawsuits could set precedents that impact future financial dealings and crypto regulations in the U.S.
Stay tuned for more updates on how these developments shape the crypto landscape and what they mean for investors, blockchain projects, and the future of decentralization.
