DIB 2 JAN 2025

BTC Daily Intelligence Bulletin (DIB)
Block: 877,490
DTG/ICOD: 1200Z 02Jan25
Precedence: Routine (RR)
Controls: Public Release
QQQQ
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BLUF: Ukraine Halts Flow of Russian Gas / South Korea Investigates Plane Crash / Gaza Police Chief Killed / New Orleans Terror Attack Kills 15 / Cybertruck Explodes at Trump Hotel / Biden Seeks AML Power From SCOTUS / IRS Holds Off on Crypto Tax Rule / Syria Make Use Bitcoin to Rebuild / Swiss Bank May Stack Bitcoin / New EO to Protect US Citizen Data OCONUS / Jordan May Use Blockchain in Government / AI ‘Godfather’ Say AI May Kills Us / BTC Hashrate ATH

Market Data: Price: 1 BTC= $96,751, 36.73 oz Gold, .22 Median US House
24hr Hi: $96,785 / Lo: $93,430
Vol: $33B (Down 5%)
Mkt Cap: $1.91T (Up 3%)
HashRate: 933 EH/s
Avg Fee Rate: 2 sats/vBtye (Down 80%)
Nodes: 20,763

—Reports—
-International Events-
1. Ukraine halts flow of Russian gas to Europe: A major natural gas pipeline supplying Russian energy to Europe ran dry Wednesday after Ukraine stopped Moscow’s six-decade supply in the hopes of hurting its invader financially. The planned move marks the end of an era in which many European countries kept warm using gas pumped by Russia — which was in turn accused of using this dependency to blackmail its Western neighbors after the full-scale invasion of Ukraine in 2022. Most European countries no longer depend on Russian gas having diversified their supply — to the United States, Qatar and others — following Putin’s Feb. 2022 full-scale invasion of Ukraine. (NBC)

2. South Korea police search Jeju Air, airport operator over fatal plane crash: outh Korean police said on Thursday they had raided Jeju Air (089590.KS), opens new tab and the operator of Muan International Airport as part of their investigation into Sunday’s crash that killed 179 people in the worst aviation disaster on the country’s soil. Jeju Air 7C2216, which departed the Thai capital of Bangkok for Muan in southwestern South Korea, belly-landed and overshot the regional airport’s runway, exploding into flames after hitting an embankment. Two crew members, who were sitting in the tail end of the Boeing 737-800, were pulled out alive by rescuers. One of them was still in a critical condition and the other was being treated for injuries. (Reuters)

3. Israeli strike kills 11 people, including head of Gaza police: Gaza’s interior ministry accused Israel of killing Maj. Gen. Mahmoud Salah and Maj. Gen. Hussam Shahwan, a member of the Police Command Council, to undermine law and order in the Palestinian territory. (CNN)

-US Events-
1. Death toll rises to 15 in New Orleans terrorist attack: The decision to postpone the Sugar Bowl game was made out of the highest regard for precaution amid the ongoing investigation. The FBI is bringing in people from Quantico and leading the investigation. A pickup truck plowed into a crowd on Bourbon Street in the early morning hours of New Year’s Day. 42-year-old Shamsud Din Jabbar is identified as the suspect. He was killed by police after a shootout. The FBI says they do not believe that he acted alone in this attack. They are actively searching for other suspects and potential connections that he may have had that is new information. (AtlantaVoice)

2. Police probe if Cybertruck blast at Trump hotel is linked to New Orleans attack: Police in the US are investigating whether an explosion outside the Trump Hotel in Las Vegas is inked to the deadly car-ramming attack in New Orleans. The driver of a Tesla Cybertruck was killed and seven other people were injured in Las Vegas after the vehicle – filled with fuel canisters and firework mortars – exploded. Officials said all injuries were minor. The Cybertruck was rented in Colorado and arrived in the city on Wednesday morning, less than two hours before the detonation, police said. Parked in front of the hotel near a glass entrance, the vehicle started to smoke, then exploded. The sheriff noted that both vehicles appeared to be rented from Turo, an app-based car rental company. (BBC)

3. Biden asks justices to allow enforcement of anti-money-laundering law: The Biden administration came to the Supreme Court on Tuesday afternoon, asking the justices to let it enforce an anti-money-laundering law while the government appeals to the U.S. Court of Appeals for the 5th Circuit. The case is a challenge to the constitutionality of the Corporate Transparency Act, a 2021 law intended to prevent crimes like money laundering and the financing of terrorism by requiring businesses to report information about their owners. A rule issued by the Department of the Treasury originally required companies created before 2024 to submit initial reports by Jan. 1, 2025. (SCOTUSblog) (AC-Freedom dies in the name of national security)

-Regulatory and Legal-
1. IRS Issues Crypto Relief – Here’s How to Avoid Higher Taxes in 2025: The IRS has issued a temporary relief measure, which is expected to benefit cryptocurrency holders using centralized finance (cefi) exchanges next year. This relief addresses concerns that stem from the finalized Section 6045 custodial broker regulations, set to take effect on Jan. 1, 2025, requiring FIFO (First-In, First-Out) accounting for digital assets unless a preferred method like Highest-In, First-Out (HIFO) or Specific Identification (Spec ID) is chosen. Almost all cefi brokers were not ready to support Spec ID as of 1/1/25. This lack of readiness would have forced many crypto holders into FIFO by default, potentially triggering higher tax liabilities during asset sales. The IRS’ temporary relief allows taxpayers to continue using their own records or tax software to identify the specific units being sold. The relief period applies exclusively to cefi transactions from Jan. 1, 2025, to Dec. 31, 2025. After that date, taxpayers will need to formally select an accounting method with their broker. (BitcoinCom)

-Central Bank Digital Currencies/World Currencies-
1. Bitcoin to the Rescue? Syrian NGO Proposes Crypto Banking to Revive War-Torn Economy: In its policy proposal, the Syrian Center for Economic Research (SCER) argues that such a system is needed to accelerate reconstruction efforts and shield Syrians from inflation and currency devaluation. SCER has urged the country’s new leadership to consider building a banking system that relies on the Bitcoin network and associated technologies. (BitcoinCom)

2. Swiss National Bank May Buy Bitcoin Alongside Gold: The Swiss Federal Chancellery, the key staff organization for the Swiss government, has greenlit the “Bitcoin Initiative,” a new proposal to adopt Bitcoin as part of the Swiss National Bank’s (SNB) reserve assets, alongside traditional gold holdings. (Blockonomi)

-Institutional Concerns-
NSTR

-Economic Indicators-
1. US Mortgage Rates Rise to Over 5-Month High: The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) in the US rose to 6.97% in the week ended December 27, 2024, from 6.75% in the previous period. (TradingEconomics)

-Security Incidents and Concerns-
1. New U.S. DoJ Rule Halts Bulk Data Transfers to Adversarial Nations to Protect Privacy: The U.S. Department of Justice (DoJ) has issued a final rule carrying out Executive Order (EO) 14117, which prevents mass transfer of citizens’ personal data to countries of concern such as China (including Hong Kong and Macau), Cuba, Iran, North Korea, Russia, and Venezuela. “This powerful new national-security program is designed to ensure that Americans’ personal data is no longer permitted to be sold to hostile foreign powers, whether through outright purchase or other means of commercial access.” This covers data spanning six categories: personal identifiers (e.g., Social Security numbers, driver’s license etc.), precise geolocation data, biometric identifiers, human ‘omic (genomic, epigenomic, proteomic, and transcriptomic) data, personal health data, and personal financial data. (HackerNews)

-Technology and Science-
1. Jordan turns to blockchain tech for enhancing government operations: Jordan’s government has introduced a new Blockchain Technology Policy for 2025, which aims to increase transparency, improve public services, and drive economic growth. The policy outlines plans to implement blockchain technology to streamline government functions, reducing transaction times and operational costs. By enabling real-time verification and automation, officials expect to enhance service efficiency for businesses and citizens alike. (CryptoSlate)

2. ‘Godfather’ of AI Geoffrey Hinton Says There’s Up to 20% Chance AI Will Drive to Human Extinction: Talking on BBC Radio 4’s Today program, he says his former estimate of a 10% chance of AI wiping out humanity has increased to as high as 20%. Hinton has long been a vocal critic of uncontrolled AI development. Earlier this year, he resigned from his position at Google to freely express his concerns. Considering that AI is changing rapidly, his revised odds underline how urgent it is to implement stringent controls and ethical guidelines to safeguard the future of humanity. (TechTimes)

-Bitcoin Community-
NSTR

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

Analyst Comments (AC): Happy New Year! Take the opportunity to scrub your security practices, update technology and increase your OPSEC.

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