RATE Group | Bitcoin (BTC) Price Drops 7% Due to Weak Technicals, Intensifying Sell Pressure
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Bitcoin (BTC) Price Drops 7% Due to Weak Technicals, Intensifying Sell Pressure

26 Jul Bitcoin (BTC) Price Drops 7% Due to Weak Technicals, Intensifying Sell Pressure

Posted at 20:06h in Bitcoin News by

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  • Bitcoin (BTC) is down 7.7 percent from last week’s close.
  • Steven Mnuchin, the U.S. Secretary of Treasury, is calling for unity amongst regulators.

The U.S. Attorney’s Office of the Southern District of New York has charged Jon Barry Thompson of Volantis Escrow Platform LLC, for lying and stealing $7 million from clients. Meanwhile, BTC prices are consolidating above $9,500.

Bitcoin Price Analysis

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The principal owner of Volantis Escrow Platform LLC, Jon Barry Thompson, has been charged by the U.S. Attorney’s Office of the Southern District of New York for fleecing clients off $7 million, CoinDesk reports.

Charging Jon against two counts, each of commodity and fraud, the court found the owner of the Bitcoin escrow company culpable. The plaintiff accuses him making a false representation on the extent of his custody over digital assets.

In a statement, the prosecution team said:

“As his clients soon realized, however, Thompson’s representations were false, and these…

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