Is the US trying to kill crypto?

Crypto firms say US regulators have turned increasingly hostile to the sector, with the share of firms in Andrew Durgee's portfolio based in the US falling from most three years ago to about one in 10 this year. Durgee, managing director of the crypto division at Republic, says "the administration really has a target on the industry," while Bart Stephens of Blockchain Capital says a regulatory attack is underway. SEC chairman Gary Gensler defended the enforcement campaign, which culminated this month in legal actions against Coinbase and Binance. Gensler's critics accuse him of "regulation by enforcement," and Stephens says he still sees a bright future for the sector, though possibly outside the US.