Regulators Kill Crypto in America, Says Investor Chamath Palihapitiya.

Venture investor Chamath Palihapitiya, who once believed Bitcoin could hit $200,000, now thinks "crypto is dead in America" due to US regulatory pressure on the sector. The crypto industry is accusing the SEC and its chair Gary Gensler of "regulation by enforcement," and some companies are looking to operate outside the US. Coinbase has sued the SEC to respond to its petition asking for rulemaking, and Palihapitiya suggested Coinbase was a company that "tried to do the right things" when it came to working with regulators. Despite this, some bullish bets on Bitcoin are re-emerging, with Standard Chartered's head of digital assets research suggesting the cryptocurrency might hit $100,000 by the end of 2024.