'Crypto is dead in America,' says longtime bitcoin bull Chamath Palihapitiya
Publishing timestamp: 2023-04-24 14:59:47
Summary
Tech investor Chamath Palihapitiya, who previously predicted that bitcoin would eventually reach $200,000, now says "crypto is dead in America" due to increased regulatory scrutiny from the SEC. Palihapitiya blames regulators for the demise of cryptocurrencies, citing the SEC's enforcement actions against companies and projects that allegedly sold unregistered securities. The SEC has proposed rules that would change which crypto firms can custody customer assets and has issued a Wells notice to Coinbase, warning the company of potential violations of U.S. securities law. Bittrex has already announced it will wind down its U.S. operations due to "continued regulatory uncertainty." Palihapitiya believes that crypto companies were the most threatening to the establishment and pushed boundaries more than any other sector of the startup economy, and are now paying the price for it.
Sentiment: NEGATIVE
Tickers: COIN, BTC.CB%3D?QSEARCHTERM=BTC, BTC.CM=,
Keywords: chamath palihapitiya, bitcoin, cryptocurrency, sec, business news, fintech, technology, energy, bitcoin/usd coin metrics,