Although Palihapitiya has been a proponent of Bitcoin for years, he now believes the future of cryptocurrencies lies elsewhere.
Host of the popular podcast “All In” and seasoned venture capitalist Chamath Palihapitiya has been a long-time believer in fledgling companies and causes. During his career, Palihapitiya has invested in successful companies such as Slack and Yammer. For the past few years, Palihapitiya has championed Bitcoin and its march to 200k to the world of venture capitalists.
He has also been a senior executive at Facebook in its early days, a far cry from his teenage years spent working at Burger King.by CNBC, Palihapitiya expressed his disappointment in the current state of the crypto industry. According to Palihapitiya, the future of crypto lies elsewhere, due mostly to the actions taken by regulators.
“Crypto is dead in America. “You had Gensler even blaming the banking crisis on crypto. The United States authorities have firmly pointed their guns at crypto . They were probably the ones that were the most threatening to the establishment. And they were the ones that, in fairness to the regulators, did push the boundaries more than any other sector of the startup economy.
However, the future growth of the industry lies elsewhere, whether in Europe, Asia, or the world at large, an opinion also expressed by Republican stalwarts such as Financial Services Committee Chairman Patrick McHenry, who lambasted SEC Chairman Gary Gensler during a testimony before Congress.“Regulation by enforcement is not sufficient nor sustainable.
Both firms – as well as countless other firms across the industry – have repeatedly expressed their will to be compliant and join the larger world of financial services as equals. Unfortunately, they cannot ensure complete compliance in the absence of well-defined laws pertaining to cryptocurrencies.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
'Crypto is dead in America,' says longtime bitcoin bull Chamath PalihapitiyaTech investor Chamath Palihapitiya, who previously claimed bitcoin has replaced gold and would eventually get to $200,000, now says 'crypto is dead in America.'
Read more »
'Smart money' eyes BTC bull run: 5 things to know in Bitcoin this weekBitcoin faces a decision after a week of losses puts BTC price support at risk.
Read more »
‘Crypto is dead in America’: Tech billionaire Chamath PalihapitiyaBitcoin bull Chamath Palihapitiya believes that “crypto is dead in America” given many U.S.-founded companies are looking to relocate offshore after months of enforcement action by regulators.
Read more »
Crypto Is Dead in U.S., Claims Major VC Chamath PalihapitiyaIn a recent episode of the All-In podcast, major venture capitalist Chamath Palihapitiya declared that the U.S. crypto market, once a promising frontier, now faces potential collapse due to mounting regulatory pressure
Read more »
'Crypto is dead in America' as regulators target sector: Palihapitiya'Crypto is dead in America' as US regulators target the sector for threatening the establishment, Chamath Palihapitiya says
Read more »
Bitcoin whale rouses from the deep, moves nearly $11 million after 12 yearsIt's the latest cryptocurrency whale to wake up and move funds after years of dormancy.
Read more »