- He said so on the All-In podcast
- The businessman believes that the “good players” are simply reaping the benefits of FTX and other unscrupulous companies’ bankruptcy
A new All-In podcast was released last week. Investor, billionaire and cryptocurrency advocate Chamath Palihapitiya took part;
The full video can be viewed here. Among other things, podcast participants discussed the regulatory backdrop in the United States, AI, the SpaceX launch and more.
Palihapitiya also talked about how the cryptocurrency market is evolving in America:
“Gensler (SEC chairman) even said as if it was cryptocurrency that caused the banking crisis. Federal authorities have turned on the sector.
Cryptocurrency is effectively dead in the States as an industry.”
The billionaire went on to explain what he meant:
“I think the big players in this sector were a real threat to those in power.
And they are the ones who have pushed the boundaries of what is possible more than any ‘young’ sector in the economy.”
We note that this is far from the first time that the SEC chairman has been the subject of criticism. He has been accused of excessive pressure on the cryptocurrency sector and bias.
Palihapitiya concluded by noting that “good players” are now just reaping the benefits of FTX and other unscrupulous counterparties’ bankruptcy.
This is what led to the regulatory shift toward stricter controls.