Here’s what happened in the cryptocurrency world today

In the cryptocurrency world today, Elon Musk supported the end of the Federal Reserve Bank and Edward Snowden said Solana was “born in prison” due to its massive venture capital funding. ”, suggesting that financial support could hinder the blockchain network’s ability to operate independently, sending Bitcoin into bankruptcy. Passes the $79,000 price level for the first time

Elon Musk wants to end the Federal Reserve

Billionaire Elon Musk supports calls to end the Federal Reserve by retweeting a social media post from Utah Senator Mike Lee arguing that the Federal Reserve needs greater oversight from the U.S. executive branch. It seemed like it was.

Lee argued that the current lack of management oversight of banks is unconstitutional and called for a complete shutdown of the Federal Reserve.

Musk reposted Lee’s argument with a 100% emoji, echoing widespread calls from sound money advocates to abolish the central bank established in 1913.

Snowden calls for decentralization and criticizes VC influence over Solana.

Privacy advocate and former National Security Agency (NSA) contractor Edward Snowden spoke about decentralization while attending Near’s Redacted conference in Bangkok, Thailand.

While speaking on topics such as cryptocurrency, artificial intelligence, and blockchain technology, Snowden also spoke about the influence of venture capital (VC) on blockchain projects, citing Solana as an example.

He described Solana as “born out of prison” due to massive VC funding, suggesting that financial backing could hinder the blockchain network’s ability to operate independently.

While Snowden acknowledged Solana’s rapid growth, he expressed concern that too much ownership had been transferred to investors. But he did note that Solana could “be something” in the future.

Throughout his speech, Snowden emphasized the importance of decentralization to counter widespread surveillance capabilities enabled by AI.

He warned that AI-based surveillance could allow governments and corporations to process large amounts of personal data in real time, potentially paving the way for large-scale, real-time data analytics.

“They want to train you on everything, and be able to tell who looks anomalous (…) look at everyone, look at the entire human body, and pick out the weird ones.”

Bitcoin has surpassed $79,000 and “there is no need for rash action,” the analyst said.

The price of Bitcoin hit a new high, surpassing $79,000 for the first time in a week since U.S. President Donald Trump was re-elected.

At 05:00 UTC on November 10, Bitcoin (BTC) reached $79,141 on the cryptocurrency exchange Coinbase. But traders were warned against making impulsive moves just yet.

“There is no need for rash action, HODLing does the work for you,” Bitcoin analyst Tuur Demeester wrote in an X post on November 10. He further said:

“$79,000 Bitcoin, new ATH. Folks, this is just the beginning. Now is the time to be right and sit tight.”

“We are going to take off,” popular cryptocurrency analyst Invest Answers told his 227,400 X followers after Bitcoin broke the $79,000 price mark.

Echoing similar sentiments, cryptocurrency commentator Rain told his 148,000 X followers: “We’re back.”