Chamath Palihaptiya, the long-time bitcoin investor who previously claimed bitcoin would replace gold, now says “crypto is dead in America.”
- “The United States authorities have firmly pointing their guns at crypto,” he says.
- The SEC has ramped its enforcement of the crypto industry as the Fed prepares to launch FedNow on July.
Many crypto firms came under government scrutiny over the last couple years.
- Popular crypto exchange Coinbase was sent a Wells notice in March—typically one of the final steps before the SEC files charges.
- They “were probably the ones that were the most threatening to the establishment,” said Palihapitiya.