DIB 10 MAY 2024

BTC Daily Intelligence Bulletin (DIB)
Block: 842,853
DTG/ICOD: 0800EST 10May24
Precedence: Routine (RR)
Controls: Public Release
QQQQ
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BLUF: Russian Assault Repelled in Ukraine / Israel Can Stand Alone Netanyahu Says / Strikes in Argentina / FBI Warns Against Election Interference / US Airman Shot In Home by Deputy / US Unemployment Claims Up / Dell Hacked, 49M Affected / Subversive Russian Uses Blockchain / Mara Misses

Market Data: Price: 1 BTC= $63,297, 26.63 oz Gold, .15 Median US House
24hr Hi: $63,404 / Lo: $60,889
Vol: $25B (Even)
Mkt Cap: $1.25T (Up 4%)
HashRate: 656 EH/s
Avg Fee Rate: 20 sats/vBtye (Down 9%)
Nodes: 19.376

—Reports—
-International Events-
1. Ukraine says it repulsed Russian bid to cross border: Ukraine says it has repelled a Russian armoured attack in the north-eastern Kharkiv region, after Moscow’s forces launched an incursion across the border and sought to break through defensive lines. The local head in Vovchansk said the town had come under heavy attack from the early hours of Friday and civilians were being evacuated. (BBC)

2. Defiant Netanyahu says Israel can ‘stand alone’ after Biden threat to withhold weapons: Speaking Thursday, Netanyahu said Israel would “fight with our fingernails” in order to pursue its proclaimed goal of eliminating Hamas — with or without the backing of the United States, which until recent months had been in little doubt. The rupture between the two allies comes as talks stalled in a U.S. push for a cease-fire that would head off a ground assault on Rafah. Israeli and Hamas delegations left Cairo without a deal to end the fighting in the Gaza Strip and secure the release of hostages still held in the enclave. (NBC)

3. Argentine workers launch general strike against Milei reforms, austerity: The South American country saw public transport, the important grains crushing sector, supermarkets, airports and banks grind to a halt for 24 hours as most of the major unions joined the protest action against the government. (Reuters) (AC-Fully expected reaction to free-market reforms and government cost-cutting)

-US Events-
1. FBI warns of efforts by China, Russia, Iran to influence election: “Election threats are more diverse and expansive than ever,” a senior FBI official said on a call with reporters. And while each adversary has their own approach with different nuances and prerogatives, “sowing discord and undermining democracy is consistent across the board,” the official added. China in particular is expanding their influence efforts by creating fake social media accounts to “push narratives and sow divisiveness,” mirroring efforts deployed by Russia in prior elections. (TheHill)

2. US service member shot and killed by Florida police identified by the Air Force: The U.S. Air Force said an airman based at the Special Operations Wing at Hurlburt Field, Florida, was shot and killed Friday during an incident involving a sheriff’s deputy. Senior Airman Roger Fortson, 23, died at his off-base residence, the U.S. Air Force said in a statement released Monday. A deputy responding to the call of a disturbance in progress “reacted in self-defense after he encountered a 23-year-old man armed with a gun,” the Okaloosa County Sheriff’s Office said in a news release Friday. Other outlets are reporting officers were sent to the wrong apartment. (KIRO)

3. Hunter Biden’s federal gun charges to go to trial after appeal dismissed: A federal appeals court on Thursday declined to dismiss the federal gun charges against Hunter Biden, per court filings. The ruling makes way for a high-stakes criminal trial to begin early next month. (Axios)

-Regulatory and Legal-
1. Oklahoma poised to become leader in cryptocurrency legislation with House Bill 3594: “House Bill 3594 lays a foundation for protecting individuals’ rights to their digital assets,” Hill said. “By providing clarity and protection now, we can ensure free market practices remain the guiding principles in this burgeoning industry.” It would also prohibit state and local governments from hindering the use of digital assets for purchases and commercial asset mining. (Fox25)

-Institutional Concerns-
NSTR

-Central Bank Digital Currencies (CBDC)-
1. No current need for CBDC, Central Bank of Chile finds: The Banco Central de Chile recently published its second report exploring the concept of a central bank digital currency (CBDC). It ultimately found there’s no need for one due to high levels of financial inclusion in the country (85-87%), but said it would prepare nonetheless. While Chile has opted not to go forward with a CBDC for now, many other countries have reached the opposite conclusion. China’s digital yuan is live, BRICS countries are considering blockchain-based stablecoin settlements, and countries from Israel to South Africa are designing and testing CBDCs. (CoinGeek)

-Economic Indicators-
1. US Jobless Claims Surge to Over 8-Month High: The number of people claiming unemployment benefits in the US surged by 22,000 to 231,000 on the week ending May 4th, the highest since August 2023, and sharply above market expectations of 210,000. (TradingEconomics)

-Security Incidents and Concerns-
1. Dell Confirms Database Hacked—Hacker Says 49 Million Customers Hit: According to a posting on a hacker forum as reported by the Daily Dark Web a threat actor was trying to sell alleged stolen data from a Dell breach late in April. That for-sale notice stated that the hacked database contained “49 million customer records from Dell” and included data on systems purchased between 2017 and 2024. Dell confirmed the hack in an email to all its customers. (Forbes)

-Technology-
1. Exiled Russian Opposition Leader Launches Blockchain-Based Referendum on Vladimir Putin’s Election Win: Exiled opposition leader Mark Feygin is leading an effort to give Russians an anonymous, blockchain-powered way to register a “protest vote” against Putin. The results of this effort would, of course, have no legal weight in Russia and would not end Putin’s presidency, but the referendum could, in theory, give a public relations boost to efforts to oust him. And it gives Russians a way to voice criticism in a nation where the consequences of dissent can be high. The vote will be conducted on an app called Russia2024, built using Rarimo’s Freedom Tool, which will use the Arbitrum blockchain and zero-knowledge cryptography, making voters’ identities untraceable. (CoinDesk)

-Bitcoin Community-
1. Bitcoin Miner Marathon Digital Misses Q1 Revenue Expectation On Operational Challenges: The company mined just 2,811 bitcoin during the year’s first three months, down 34% from the previous quarter. “Bitcoin production, and therefore revenues, generated during the quarter was negatively impacted by unexpected equipment failures, transmission line maintenance, and higher than anticipated weather-related curtailments at Garden City and other sites during the quarter,” the company said in a statement on Thursday. (CoinDesk)

-Bitcoin Sentiment-
1. Fear(0)/Greed(100) Index: 66/100 (Up 11 pts)

Analyst Comments (AC): Pressure, either of the political or economic nature, seems to drive blockchain-based solutions, as can be seen in the article above concerning Russian politics. The people in Russia seem to have no voice, so an exiled opposition leader uses blockchain-based software to take a political pulse on Pres. Putin. Worldwide, those under economic oppression are also turning to blockchain-based Bitcoin as the alternative to fiat-managed and debased central currencies. The uses of cryptography and blockchain continue to grow as oppression against freedom-seekers continue.

Follow us on NOSTR: @Bitcoin Veterans
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Analyst: BV2A
END REPORT
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*NSTR-Nothing Significant To Report