Hey Peeps!
On April 22nd, Tech Billionaire Chamath Palihapitiya made an appearance on the All-In podcast and claimed that "Crypto is dead in America".
Palihapitiya finished his claim by saying "now you have Gensler even blaming the banking crisis on crypto. So, the United States authorities have firmly pointed their guns at crypto".
Regulatory agencies in the United States, like the SEC, have been knocking on crypto's door for the past year, having sued what feels like every crypto company doing business in America.
The SEC is currently engaged in lawsuits against cryptocurrency companies Coinbase, Bittrex, Paxos, and many others.
Here is the video of the All-In podcast featuring Chamath Palihapitiya:
The discussion about Crypto starts around the 1 hour 21 minute mark.
"Coinbase played by the rules, stood in line, tried to do the right things it seems at every step along the way. Everything from Board composition, to executive composition, to how they try to interact with the regulators, yet they were probably the furthest from getting a license. The one that came the closest was the one that was the most fraudulent, which is FTX...how is that even possible?" - Chamath Palihapitiya
Chamath Palihapitiya spoke about Coinbase and how they tried to follow all the rules and still are facing legal action from the SEC.
The billionaire then jokingly pointed out that despite Coinbase following all the rules, FTX was closer to securing a regulatory license.
The discussion then turns to Sam Bankman-Fried and how he was able to play the political game better with his constant donations and contributions.
This just shows how corrupt the regulatory world is in America.
It doesn't matter what any of the crypto companies actually do, the regulators seem set on making sure they comply or fail.
It almost makes one wonder if the regulatory game was setup so crypto would have no chance to succeed in the United States.
What are your thoughts on this news?
Do you believe Crypto is dead in America?
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