Strong resistance at $10,500 is respected as BTC failed to break above it. In the daily, price is now below the $10,000 level and is currently hovering around $9,700. BTC has also formed a range from the support around $9,600 to resistance around $10,000. This range is crucial; a breakdown below the support level would send price to its next possible support around 9,000. Looking into the intraday chart (4H), price is now below the 50 MA and MA crossover has also materialized. Overall, current momentum is shifting to the bears' side with this price action. Otherwise, downward move is invalidated should price reclaim level above $10,000 - $10,500.
Global market cap is at $280B, while BTC's market cap is at $178B.
NEW: The @CFTC is charging Breonna Clark and Venture Capital Investments with defrauding investors by pretending to run a commodity pool invested in crypto and foreign currency contracts. https://t.co/6iSuOYQF9C @nikhileshde reports— CoinDesk (@coindesk) February 14, 2020
The U.S. CFTC is charging an alleged Ponzi scammer and his company for embezzling around $500,000. According to Coindesk's report, Breonna Clark, known as "Eliot Clark" or "Alexander Pak," was able to raise $534,829 from 72 victims through his firm Venture Capital Investments Ltd. and The Life Group telling them that the funds will be invested in bitcoin (BTC), altcoins and foreign currency contracts. Instead, funds amounting to around $400,000 was spent for personal use while a small portion of the funds were used to trade on the clients' behalf.
The CFTC is charging Clark with fraud by a commodity pool operator and commodity trading adviser, fraud by deceptive device, failure to register as a commodity pool operator and failure to register as a commodity trading advisor.
Decentralized finance (DeFi) project bZx had a user successfully game multiple DeFi protocols to extract around $350,000 from the platform. The company, which was presenting at ETHDenver during the attack, took down its lending and trading protocol Fulcrum as a response.
Staked CEO Tim Ogilvie, which operates a working relationship with bZx, said that the attacker borrowed 10,000 ETH in a flash loan and sent half to Compound and half to bZx. The user then used the funds to short another asset (WBTC) on bZx, then quickly borrowed $1.1M worth of WBTC on Compound and sold the borrowed WBTC on another DeFi market - effectively dropping the price and and profiting extremely from the short position.
IOTA Foundation closed their Trinity wallet after receiving reports of fund theft on Feb. 12. According to the foundation, they shut off the Coordinator node of the system to conduct further investigation of the incident and evaluation of a possible exploit on the previous version of the wallet. As part of the investigation, they are also trying to put together the hackers' attack pattern and complete a manual verification. While most of the evidence points out to seed theft, cause hasn't been determined yet and still under investigation.
IOTA said on Twitter, they are now closely working with law enforcement and cybersecurity experts to investigate a coordinated attack.
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