Yes and no. No, in that the bridge code is published, and it takes no action other than re-encrypting your message with the destination auth. But you have to trust that server. If you don't trust the server, then you can run your own. Running your own Matrix server isn't all that hard; I've done it before and there's an Ansible playbook which does all the heavy lifting for you. But these days I prefer someone to run it for me.
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