Looks like this news hit the market hard today. There was a press conference earlier with some big names from the Justice Department talking about Bitzlato's owner getting charged. I'm sure this isn't gonna help crypto sentiment.
Totally. With all these altcoins out there, people just lump everything together. Bitcoin gets dragged along with the shady exchanges like FTX. It's frustrating. Hope lawmakers get it right and see Bitcoin for what it really is.
That’s an interesting angle. The name Bitzlato has 'gold' in it in some languages which is kinda fitting. But honestly, a random Hong Kong exchange isn’t the main culprit for BTC not being up today. The layoffs in tech probably play a bigger role.
Right? Who cares about Bitzlato? If Yobit got shut down, that'd be a different story. That exchange has way more volume. Plus, Hong Kong supposedly wants to be crypto-friendly now while the US is trying to reach across borders with the FBI.
Seems like the US is serious about cracking down on non-kyc or decentralized exchanges. Tough break for crypto. If they’ve got solid evidence against Bitzlato, then fair enough. But this could spell trouble for NFT platforms too with all the laundering going on.
Or it looks like a witch hunt targeting Russians and supposed money laundering schemes tied to this exchange. They gotta be careful about overreach, especially with the ongoing war. US trying to crush anything linked to Russia, it’s wild.
It’s so ironic tho. When the US goes to war over oil, it’s for humanity, but when Russia defends its borders, it’s a war? Makes no sense. War is bad, but motives need to be reassessed for sure when another superpower rises up.