Tech Investor Reveals US Crypto Regulations are Killing Innovation


  • Chamath Palihapitiya, a top tech investor and crypto bull, says US regulators have killed crypto in the country.
  • He notes that US regulatory uncertainty has strangled crypto innovation in the US.
  • Palihapitiya had predicted in 2021 that Bitcoin would reach a price of $200,000.

Tech billionaire Chamath Palihapitiya, who previously forecasted that the price of Bitcoin would rise to $200,000, has revealed his views on the current state of crypto in the United States.

The venture investor believes that regulatory uncertainty has killed off crypto innovation in the country.

US Regulations Killing Crypto Growth

During an episode of the All-In podcast, Palihapitiya warned that “crypto is dead in America.” 

The comments follow SEC Chair Gary Gensler’s appearance at a congressional hearing where his outlook on crypto was heavily criticized by the crypto industry.

According to Palihapitiya, regulators are the ones to blame for crypto’s death in the country, noting how Gensler connected crypto to the recent banking crisis. He believes that the US authorities have their guns firmly trained on crypto.

US regulators have cracked down on crypto companies in the past few months. Some of the firms targeted include crypto exchanges Coinbase, Kraken, and Bittrex. As a result, Bittrex has announced it will be winding down its US operations due to the regulatory uncertainty. Coinbase has also taken legal action against the SEC over a rule making petition.

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