DIB 13 MAY 2024

BTC Daily Intelligence Bulletin (DIB)
Block: 843,279
DTG/ICOD: 0800EST 13May24
Precedence: Routine (RR)
Controls: Public Release
QQQQ
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BLUF: Ukraine on the Defensive / Putin Replaces Defense Minister / Socialists Wins Elections in Spain / Campus Protests Occur at Commencements / Trump Rallies in NJ / Japan’s Metaplanet Using BTC as Asset / US-China Talk AI / US Budget Surplus in April

Market Data: Price: 1 BTC= $62,813, 26.75 oz Gold, .15 Median US House
24hr Hi: $63,248 / Lo: $60,769
Vol: $23B (Up 77%)
Mkt Cap: $1.24T (Up 3%)
HashRate: 575 EH/s
Avg Fee Rate: 13 sats/vBtye (Down 38%)
Nodes: 18,977

—Reports—
-International Events-
1. Ukraine’s Zelenskyy says his army is locked in ‘fierce’ border battles amid a Russian assault: Zelenskyy said “fierce battles” are taking place near the border in eastern and northeastern Ukraine as outgunned and outnumbered Ukrainian soldiers try to hold back a significant Russian ground offensive. Ukraine’s general staff said late Sunday that Russian forces had conducted at least 22 attacks over the previous 24 hours in two parts of the Kharkiv region and had “tactical success.” The Kremlin’s forces are aiming to exploit Ukrainian weaknesses before a big batch of new military aid for Kyiv from the U.S. and European partners arrives on the battlefield. (AP)

2.Putin replaces Russia’s defense minister with a civilian as Ukraine war rages and defense spending spirals: Andrey Belousov, a civilian who served as former first deputy prime minister and specializes in economics, was appointed to the top defense post, Kremlin spokesperson Dmitry Peskov said on Sunday. Shoigu was “relieved” of his position by presidential decree, Peskov said, but he will remain an influential part of Putin’s administration as secretary of Russia’s Security Council. (CNN) (AC-After recent success in Ukraine, the move could be to allow Shoigu to focus more on operational issues vs. administrative ones.)

3. Spain’s Socialists hail ‘new era’ in Catalonia as separatist support dims in elections: Spain’s Socialists won the biggest share of the vote in Sunday’s Catalan elections, dealing a serious blow to more than a decade of separatist governance and the independence dreams still nursed by some in the wealthy northeastern region. (Reuters)

-US Events-
1. students walk out on Jerry Seinfeld at Duke commencement: A tiny contingent of Duke University graduates opposed pro-Israel comedian Jerry Seinfeld speaking at their commencement in North Carolina Sunday, with about 30 of the 7,000 students leaving their seats and chanting “free Palestine” amid a mix of boos and cheers. (Politico) (AC-Coverage on this event is highly skewed, most not reporting that Seinfeld is Jewish, or taking ‘anti-Israel’ or ‘pro-Palenstinian’ perspectives.)

2. Trump brings 2024 campaign to the Jersey Shore: The Garden State is not often in the national spotlight for a presidential election, but former President Donald Trump brought his campaign to the Jersey Shore on Saturday. “As you can see, today, we’re expanding the electoral maps because we are going to officially play in the state of New Jersey. We’re going to win the state of New Jersey,” Trump told the crowd. (NJMonitor) (AC-This event is also highly skewed in reporting in the MSM. Most would not mention the large crowds, some reporting up to 100,000, and often focusing on Trump’s ‘attacking’ of Joe Biden.)

-Regulatory and Legal-
1. Buncombe County, NC extends moratorium: County officials say they are struggling with how to write rules protecting residents from problems that those who have experienced them say include constant noise as well as Styrofoam and electronic waste. (CitizenTimes) (AC- Buncombe Co, NC was the first county to prohibit bitcoin/crypto mining with a 1 year moratorium on mining. The FUD in this particular area is extremely high.)

-Institutional Concerns-
1. Metaplanet Makes Bitcoin a Reserve Asset As Japan’s Debt Mountain Grows: Tokyo-listed Metaplanet has adopted bitcoin (BTC) as a strategic reserve asset as a hedge against Japan’s debt burden and the resulting volatility in the yen. The move is a direct response to sustained economic pressures in Japan, notably high government debt levels, prolonged periods of negative real interest rates, and the consequently weak yen,” (CoinDesk)

-Central Bank Digital Currencies (CBDC)-
1. Chinese workers paid in CBDC are cashing it out for real money: Some Chinese cities have begun paying state employees in the country’s CBDC but most of these early adopters convert it to cash immediately. Since the currency’s inception in 2020, several jurisdictions in China have been working to boost the adoption of the CBDC, with multiple cities giving away over 180 million Chinese yuan ($26.5 million) through subsidies and consumption coupons. (CoinTelegraph)

-Economic Indicators-
1. US Budget Posts Budget Surplus in April: The US government’s budget surplus in April 2024 expanded to $210 billion from $176.2 billion a year earlier, driven by higher tax receipts that outpaced increased spending. Receipts were from higher from the annual filing of individuals and businesses. (TradingEconomics)

-Security Incidents and Concerns-
1. Casa Co-Founder Jameson Lopp: Attacks on Cryptocurrency Whales Are “Vastly Underreported”: Lopp explained that many victims of these thefts and hacks hesitated to consult law enforcement out of fear of drawing attention to the origins of their holdings. (BitcoinCom)

-Technology-
1. US and China set for first high-level talks on AI, White House officials say: The talks in Geneva on Tuesday will ‘not focus on deliverables’ but share views on how they view the risks arising from the technology. The two sides have different priorities but there are signs they agree on the need to cooperate on regulating the emerging technology. (SChinaMornPost)

-Bitcoin Community-
NSTR

-Bitcoin Sentiment-
1. Fear(0)/Greed(100) Index: 57/100 (Down 6 pts)

Analyst Comments (AC): NSTR

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Analyst: BV2A
END REPORT
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*NSTR-Nothing Significant To Report