Bitcoin enthusiast and multibillionaire tech investor Chamath Palihapitiya claim that American regulators have effectively killed the  cryptocurrency industry.

In an episode of the All-In podcast from April 22, he asserted brashly that “Crypto is dead in America.”

In reaction to the report that crypto exchange Coinbase is now mulling a transfer overseas, Palihapitiya made his statement.

He accused Gary Gensler, the head of the United States Securities Exchange Commission: “Crypto is dead in America.