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. @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.

This Daily Dose is brought to you by SCI News Channel.

Share this post