"Crypto is DEAD... Here's Why" Chamath Palihapitiya Latest Crypto Prediction

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"Crypto is DEAD... Here's Why" Chamath Palihapitiya Latest Crypto Prediction

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It has now been MONTHS since the main US regulatory bodies, including the SEC and CFTC, began an all out war and crackdown on the cryptocurrency industry in the US after the FTX collapse in November. However, despite this, neither the SEC or the CFTC have yet to provide clarity on the regulatory framework for the industry. The lack of clarity is evident in the debates about whether crypto assets such as Ethereum are commodities, securities, or currencies.

The confusion has led to calls for suitable regulation to ensure the growth of the cryptocurrency industry in the US. However, policymakers and regulators seem to be pursuing a pointless, directionless crackdown on everything related to crypto. The blame for the collapse of Silicon Valley Bank and the banking sector crisis has also been misplaced and shifted on the crypto industry.

Canadian-American venture capitalist Chamath Palihapitiya and entrepreneur & investor David Sachs in the latest all in podcast discussed the state of the cryptocurrency industry and why they believe it is now dead in America.

Both Palihapitiya and Sachs believe that the regulatory onslaught by agencies like the SEC has killed the crypto industry in America.Make sure to stick around to the end of the video where they breakdown why they see huge US Crypto companies, such as Coinbase moving to the U.K as they pick up the slack and mismanagement by the U.S.

About Chamath Palihapitiya:

Chamath Palihapitiya is a Canadian-American venture capitalist, engineer, SPAC sponsor and the founder and CEO of Social Capital. Palihapitiya was born in Sri Lanka, and moved to Canada with his family at the age of six. Palihapitiya was an early senior executive at Facebook, working at the company from 2007 to 2011.

Credits: All-In Podcast

https://youtu.be/yYwfiqYocc0

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Bitcoin and other crypto news, prices and info.

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