DIB 16 MAY 2024

BTC Daily Intelligence Bulletin (DIB)
Block: 843,692
DTG/ICOD: 0800EST 16May24
Precedence: Routine (RR)
Controls: Public Release
QQQQ
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BLUF: Slovakia PM Critical After Assassination Attempt / Israel Mulls Post-War Gaza / France Losing Control in Territory New Caledonia / Biden and Trump Agree to June Debate / Bridge Hit By Barge In Galveston / China Busts Large USDT Ring / CPI Data Ignites Liquidity Hope

Market Data: Price: 1 BTC= $66,157, 27.73 oz Gold, .15 Median US House
24hr Hi: $66,677 / Lo: $62,272
Vol: $41B (Up 57%)
Mkt Cap: $1.3T (Up 6%)
HashRate: 587 EH/s
Avg Fee Rate: 18 sats/vBtye (Up 4%)
Nodes: 17,204

—Reports—
-International Events-
1. Slovakia leader ‘stabilized’ after five hours in surgery following assassination attempt: Slovakia’s prime minister, Robert Fico, is in a stable but serious condition after being shot five times from a close range and undergoing surgery, his deputy said Thursday, an assassination attempt that rocked the central European country and sparked global condemnation. The prime minister had approached a small crowd of people waiting to meet him, when the suspected gunman in the crowd lunged forward and shot him five times from across a security barrier. Footage from the scene showed the injured prime minister being bundled into a vehicle by his staff, before it speeds away with him inside. (CNN)

2. Georgia’s parliament passes controversial “foreign agent” law amid protests, widespread criticism: Georgia’s parliament has passed a law that critics see as a threat to media freedom and the country’s aspirations to join the European Union – and a step toward the kind of draconian laws that have quashed political dissent in neighboring Russia. The law would require media, nongovernmental organizations and other nonprofits to register as “pursuing the interests of a foreign power” if they receive more than 20% of funding from abroad. (CBS)

3. Rift in Israel war cabinet as defence chief opposes ‘military rule’ in Gaza: Divisions within Israel’s war cabinet over the lack of post-war plans for the Gaza Strip have erupted in a rare public row, with Defence Minister Yoav Gallant saying the country should not be involved in ruling the besieged and bombarded territory once the fighting ends. (AlJazerra)

4. Violence rages in New Caledonia as France rushes emergency reinforcements to its Pacific territory: Violence raged across New Caledonia for the third consecutive day Thursday hours after France imposed a state of emergency in the French Pacific territory, boosting security forces’ powers to quell deadly unrest in the archipelago where some residents have long sought to break free from France. (AP)

-US Events-
1. Biden, Trump agree to June presidential debate hosted by CNN: The CNN debate sets up a televised confrontation before either candidate’s nominations are formally complete and marks their first televised match-up since 2020. (Axios)

2. Barge hits bridge connecting Galveston and Pelican Island, causing partial collapse and oil spill: The impact sent pieces of the bridge, which connects Galveston to Pelican Island, tumbling on top of the barge and shut down a stretch of waterway so crews could clean up the spill. The accident knocked one man off the vessel and into the water, but he was quickly recovered and was not injured. Ports along the Texas coast are hubs of international trade, but experts said the collision was unlikely to result in serious economic disruptions since it occurred in a lesser-used waterway. The accident happened shortly before 10 a.m. after a tugboat operator pushing two barges lost control of them. (AP)

3. UC Berkeley encampment comes down after school agrees to review investments: Protesters had been calling for the university to completely divest from weapons manufacturers and other Israeli businesses that have ties to military operations in Gaza, including weapons manufacturers and surveillance companies. High-level investment decisions cannot be made by individual institutions under the University of California system, but instead fall to the UC Board of Regents. (NBC)

-Regulatory and Legal-
1. Crypto enters the American Presidential Election cycle: President Trump is positioning himself as the first major party nominee to actively court Bitcoin and crypto holders. The issue has become a fresh line of attack for Trump against Biden. SEC Chair Gary Gensler, appointed by Biden, has pursued aggressive enforcement actions against crypto firms for alleged violations of federal securities laws. Trump criticized the administration’s stance, asserting, “The Democrats are very much against it.” (BraveNewCoin)

2. Chinese police bust $1.9B USDT underground banking racket: The underground banking operations operated in the Chinese city of Chengdu, where the Tether stablecoin was used to exchange foreign currencies. The city police issued a media report highlighting the details of the underground operations and said they had arrested 193 suspects across 26 provinces. A report published by Kyros Ventures indicates that Chinese traders are among the largest stablecoin holders worldwide. The report shows that 33.3% of Chinese investors hold several stablecoins, ranking them second only to Vietnam’s 58.6%. (CoinTelegraph)

-Institutional Concerns-
1. CME Looks to Take On Binance and Coinbase, Could Launch Spot Bitcoin Trading: The Chicago Mercantile Exchange is already the top bitcoin futures exchange by open interest, while the offshore, non-regulated Binance dominates the spot market. (CoinDesk)

-Central Bank Digital Currencies (CBDC)-
NSTR

-Economic Indicators-
1. US Stocks Rise to Record Highs: US stocks extended early gains on Wednesday after April’s inflation print favored bets that the Fed is due to start cutting interest rates by the third quarter, triggering a rally for equities in Wall Street and the rest of the world. (TradingEconomics)

2. US Inflation Rate Slows as Expected: Annual inflation rate in the US eased to 3.4% in April 2024 from 3.5% in March which was the highest reading since September, in line with market forecasts. (TradingEconomics)

-Security Incidents and Concerns-
1. Cybersecurity pros in high demand as hacking attacks soar: Nationally, 3,205 data breaches were reported in 2023, topping the previous record by 72% and revealing the personal data of more than 353 million people. The average cost of a single incident is nearly $4.5 million, computer company IBM found. Globally, cybercrime costs around $9.5 trillion a year. Recognizing the growing risks, many insurers and regulators now insist that companies prove they’re protecting their own systems. (CapTimes)

-Technology-
NSTR

-Bitcoin Community-
NSTR

-Bitcoin Sentiment-
1. Fear(0)/Greed(100) Index: 70/100 (Up 4 pts)

Analyst Comments (AC): Any trip to a grocery store will reveal the effects of actual inflation on the consumer. With the CPI data coming in lower than expected, however, markets globally reacted positively to the news in hopes of a Federal Reserve interest rate cut soon. The CPI data is a primary driver of Fed actions which is why the Bureau of Labor Statistics (BLS) announced last week that coffee prices will not be included in this or subsequent CPI data. You see, coffee prices are up 78% since September last year. The timing of the data and ‘reaction’ is suspect in relation to the election year, giving the impression of a well-scripted play.

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