• Chamath Palihapitiya, an early crypto investor and venture capitalist, believes that U.S. financial agencies have made it clear that cryptocurrency is dead in America.
• He attributes this to the recent attack on leading digital currency exchange FTX, as well as the SEC’s targeting of companies like Coinbase.
• Palihapitiya is disappointed with how even those playing by the rules are being targeted, and suggests that those who pushed boundaries more than other sectors are paying the price for it.
Chamath Palihapitiya’s Opinion on Crypto in America
Chamath Palihapitiya – an early crypto investor and venture capitalist – recently expressed his belief that U.S. financial agencies have made it clear that cryptocurrency is dead in America during a podcast interview.
The Attack on FTX
Palihapitiya attributes this opinion to the recent attack on leading digital currency exchange FTX, alleging that its leader Sam Bankman-Fried took user funds and used them for personal gain or investments in luxury real estate in The Bahamas. Bankman-Fried is now awaiting trial at his parents‘ California home while also facing charges from the SEC.
Targeting Companies That Play by the Rules
Palihapitiya has voiced his disappointment with how even those playing by the rules are being targeted, mentioning Coinbase specifically as an example of a company that was following regulations yet still not receiving a license from the SEC due to their involvement in crypto activities.
Paying The Price For Pushing Boundaries
He goes on to suggest that companies who pushed boundaries more than other sectors are now paying the price for it, suggesting Brian Armstrong’s exploration of taking Coinbase to Bermuda as one example of this consequence being felt already in American crypto circles.
Conclusion
In conclusion, Chamath Palihapitiya believes that U.S. financial agencies have made it clear that cryptocurrency is dead in America due to their attacks on leading digital currency exchanges and their targeting of companies like Coinbase despite their attempts at playing by the rules; he also suggests that those who pushed boundaries more than other sectors are now paying for it due to regulatory actions taken against them
