Bitcoin Bull Chamath Palihapitiya claims that crypto is dead in America

Bitcoin Bull Chamath Palihapitiya claims that crypto is dead in America

Chamath Palihapitiya, moderator of the popular podcast "All In" and experienced risk capital provider, believes in young companies and concerns for a long time. During his career, Palihapitiya invested in successful companies such as Slack and Yammer. In recent years, Palihapitiya for Bitcoin and his march has campaigned for 200,000 in the world of risk capital providers.

He was also a senior employee on Facebook in the beginning, far from his teenage years, which he spent at Burger King.

regulatory authorities slow down growth

As reported by CNBC, Palihapitiya expressed his disappointment with the current state of the crypto industry. According to Palihapitiya, the future of crypto is somewhere else, which is mainly due to the measures of the supervisory authorities.

"crypto is dead in America." Gensler even blamed crypto for the banking crisis. The US authorities have directed their weapons firmly on crypto (company). They were probably those who threatened the establishment the most. And they were those who were more than every other sector of the start-up economy to be more than the borders of the start-up. have. "

Chamath Palihapitiya. Financial Times

still a creditor

Although Palihapitiya has expressed his dismay about the current state of affairs, he has made it clear that he still believes in Bitcoin and cryptocurrencies in general

The future growth of the industry, however, is somewhere else, be it in Europe, Asia or around the world, an opinion that is also expressed by Republican followers such as the chairman of the Financial Services Committee, Patrick Mchenry, who inscribed the Seclei Chairman Gary Gensler during a statement before the congress.

"Regulation through enforcement is neither sufficient nor sustainable." You punish digital-asset companies for the fact that you supposedly do not adhere to the law, although you do not know that it will apply to you (...) innovations abroad and endanger American competitiveness. " In return, Gensler decided to hold on to his weapons and to apply for more means to "monitor the wild west, which is crypto".

The consequences of the measures of the SEC are already emerging, since companies such as Coinbase and Bittrex have supposedly started to create emergency plans for moving abroad.

Both companies - as well as countless other companies in the industry - have repeatedly expressed their will to be compliant and to join the larger world of financial services as equal. Unfortunately, without clearly defined laws in relation to cryptocurrencies, you cannot guarantee complete compliance.

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