'Crypto is dead in America' as US regulators target the sector for threatening the establishment, Chamath Palihapitiya says

• Crypto is paying the price for challenging the establishment, Chamath Palihapitiya said.
• "Crypto is dead in America," the so-called SPAC King said recently on the All-In podcast.
• "So the United States authorities have firmly pointed their guns at crypto."

Cryptocurrencies are paying the price for pushing economic boundaries, "SPAC King" Chamath Palihapitiya said in a weekend episode of the All-In podcast.

His comments came as the Securities and Exchange Commission has stepped up efforts to crackdown on the sector. 

"Crypto is dead in America," Palihapitiya said. "Now you had [SEC Chair Gary] Gensler even blaming the banking crisis on crypto. So, the United States authorities have firmly pointed their guns at crypto."