Tech billionaire Chamath Palihapitiya declares "Crypto is dead in America"
Billionaire tech investor Chamath Palihapitiya has claimed that the US has choked out the cryptocurrency sector to the point of death, with regulators discouraging banks from holding crypto or providing services to crypto companies. Palihapitiya attributed some fault to the sector, but also pointed the finger at Gary Gensler, the Chair of the US Securities Exchange Commission (SEC). He said that the good actors are now "paying the price" for the bad work done by FTX and other firms that have impacted the reputation of the industry. Coinbase is now considering a move offshore.