Digital Assets Space Pioneer Issues Stark Warning Against Surveillance, Control in Finance Following NYC Mayor’s Remarks

May 16, 2024

Gabor Gurbacs, a luminary in the digital assets space, has ignited debate with his stark warnings about the dangers posed by pervasive surveillance and censorship. Amid his cautionary tales, the executive also sheds light on the glaring disparity in institutional support for Bitcoin, revealing a stark contrast between professed endorsement and genuine belief in the revolutionary potential of the cryptocurrency.

In a series of pointed tweets, Gurbacs, the renowned digital asset strategist at VanEck and Tether, sounded the alarm on the pervasive surveillance and control mechanisms embedded within credit card networks and central bank digital currencies (CBDCs).

The catalyst for Gurbacs’ commentary was an X post by the account @WallStreetSilv, showcasing a startling statement from the mayor of New York City regarding corporate partnerships aimed at tracking and limiting meat consumption. The tweet juxtaposes the perspective of an average person with the mayor’s acknowledgment of partnerships with entities like American Express to monitor dietary choices.

Gurbacs’ retweet is accompanied by a chilling caption, warning of a dystopian future where credit card networks and CBDCs will seek to track and control every aspect of individuals’ lives. He outlined a troubling progression, beginning with mere tracking and culminating in asset freezes based on nationality, minority status, or even dietary habits.

“Credit card networks and CBDC aim to track and control every aspect of your life. First they just track you. Then your assets get frozen if you are from an undesirable country or minority. Next your assets get frozen if you eat meat. The control freak cabal must fall,” the executive’s X post read.

Expressing profound disappointment, Gurbacs highlighted the apparent lack of resistance from global company CEOs against pervasive surveillance and censorship in a separate X post. He underscored the ethical implications of prioritizing profits over personal freedoms, warning against the normalization of an Orwellian society for future generations.

“I find it extremely disconcerting and disappointing that not even 1% of the top global company CEOs stand up against pervasive surveillance and censorship. It’s one thing to make money, it’s another to live in an Orwellian society for the rest of your life and your kids’ lives,” Gurbacs said.

The executive’s commentary serves as a poignant reminder of the potential dangers inherent in the convergence of finance and surveillance. As discussions surrounding CBDCs and digital currencies continue to unfold, his words prompt reflection on the balance between innovation, regulation, and individual autonomy in the digital age.

Very recently, Gurbacs weighed in on the landscape of institutional support for Bitcoin, citing a tweet from user @MrHodl, who remarked on the scarcity of genuine supporters within Wall Street. Gurbacs echoed this sentiment, expressing gratitude for the few entrepreneurs who truly understand and support Bitcoin’s revolutionary potential. He noted that such supporters are often found among family offices and quiet billionaires rather than mainstream financial institutions.

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