I’ve never in my life come across Bitzalo exchange as you said. I’ve seen other people on Twitter claim that they have also never heard of it and In fact, it did make the news because of the recent SBF with the FTX situation.
What will happen with SBF is that he would probably plead guilty in the long run allowing him to be given a lighter sentence.
Am not worried when all these unknown or shady exchanges are closing, am worried because they keep on giving the government reason to regulate crypto, something which a lot of us will want to remain decentralized.
The dip will turn out good but as usual, few people will buy the dip and enjoy it when it stabilises once more.
All this news will end up scaring new investors who want to get involved in the market, even though it’s good for the market new people wouldn't know that.
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I also have not heard of this exchange before. But I basically think it's more like a black market for money laundering and criminal activities and they have known illicit business people who deal with this exchange.
I don't think SBF would ever plead guilty. This is because he keeps telling the world that everything happened as a result of a mistake and not because he was a thief and scammer. So if he keeps following this narrative it makes it easier for him to claim culpable deniability.
I don't know what will happen but I think eventually all the shady exchanges are going to be exposed. But I think the worst is behind us.