‘Crypto is dead in America,’ says tech investor Chamath Palihapitiya

Tech investor Chamath Palihapitiya, who said two years ago that bitcoin has replaced gold and predicted the digital currency would climb to $200,000, has a much more cautious view on cryptocurrencies these days.

“Crypto is dead in America,” Palihapitiya said in the latest episode of the All-In podcast.

Palihapitiya blamed crypto’s demise largely on regulators, who have gotten much more aggressive in their pursuit of bad actors in the industry. Securities and Exchange Commission Chairman Gary Gensler has said crypto trading platforms should abide by strict U.S. securities laws.

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“You had Gensler even blaming the banking crisis on crypto,” Palihapitiya said. “The United States authorities have firmly pointed their guns at crypto.”

Source: ‘Crypto is dead in America,’ says tech investor Chamath Palihapitiya