DIB 1 May 2024

BTC Daily Intelligence Bulletin (DIB)

Block: 841,643

DTG/ICOD: 0800EST 01May24

Precedence: Routine (RR)

Controls: Public Release

QQQQ

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BLUF: Indonesian Volcano Erupts Again / Haiti Chooses New PM / US, Philippines Starting Up Intel-Sharing on China / NYPD Rush Columbia Protests, 100 Arrested / 4 Officers Killed Serving Warrant in Charlotte / Roger Ver Arrested in Spain / CZ Given 4 Months in Prison / Coinbase Finally Rolls out Lightning

Market Data: Price: 1 BTC= $57,698, 25.20 oz Gold, .13 Median US House

24hr Hi: $61,509 / Lo: $56,555

Vol: $45B (Up 50%)

Mkt Cap: $1.14T (Down 6%)

HashRate: 598 EH/s

Avg Fee Rate: 24 sats/vBtye (Down 28%)

Nodes: 19,859

—Reports—

-International Events-

1. Thousands evacuated, flights disrupted as Indonesian volcano erupts again: Thousands of people have been evacuated and flights disrupted after Indonesia’s Mount Ruang erupted again, sending thick clouds of ash more than 5km (3 miles) into the sky. Officials said the volcano in the archipelago’s North Sulawesi province erupted at least three times on Tuesday, prompting fears debris might fall into the sea and cause a tsunami. (AlJazzerah)

2. Haiti’s transitional council names a new prime minister: Fritz Bélizaire, a little known former sports minister, was chosen in a surprise move to replace current interim Prime Minister Michel Patrick Boisvert, gaining the support of four of the seven voting members on the nine-member panel but with other panel members saying they were unfamiliar with Bélizaire. (AP)

3. US, Philippines Working On Intel Sharing Deal Amid Clashes With Chinese Vessels: US and Philippine officials discussed the potential agreement, known as the General Security of Military Information Agreement (GSOMIA), during talks held in Washington last week. In a joint statement, the two nations said they wanted to conclude the GSOMIA by the end of 2024. The agreement would formalize intelligence sharing between the two militaries and create protocols for top-secret information. (ZeroHedge)

-US Events-

1. Dozens arrested as NYPD cops dramatically storm Columbia campus to clear out anti-Israel mob: Hundreds of officers swooped inside the gates of the Morningside Heights school shortly after 9 p.m. and set their sights on historic Hamilton Hall, the building that was taken over by rogue rioters in a drastic escalation of the protests that have plagued the campus for weeks. In total, about 100 protesters were arrested in the mass sweep, according to sources. (NYPost)

2. 4 law enforcement officers were killed in shooting at a home in Charlotte, North Carolina. 4 other officers are hospitalized: Terry Clark Hughes Jr., 39, was killed in an exchange of gunfire Monday after he allegedly fired a high-powered rifle at a U.S. marshals task force trying to serve him with a warrant and included local law enforcement officers, according to Charlotte-Mecklenburg police. (NBC)

-Regulatory and Legal-

1. Early bitcoin investor Roger Ver arrested, charged with alleged tax fraud: Ver is charged with alleged mail fraud, tax evasion and filing false tax returns, according to a Tuesday statement from the U.S. Department of Justice. Ver allegedly concealed bitcoin ownership from the U.S. Internal Revenue Service. Ver was arrested this weekend in Spain, with possible extradition to the United States. Even though Ver was not a U.S. citizen in 2017, he was still legally required to report to the IRS and pay tax on certain distributions. Ver also allegedly used law services to prepare and file false tax returns that undervalued the two companies, hid their 73,000 BTC holdings and did not mention Ver’s personal bitcoin ownership, according to the DOJ. (TheBlock)

2. How Changpeng Zhao’s ‘Good Guy’ Reputation Secured a 4-Month Prison Sentence: Judge Richard Jones said he spent the weekend poring over the voluminous letters of support for the ex-CEO of Binance until the book they were contained in literally fell apart. (CoinDesk)

3. 18 Years In Prison for NYC Woman Behind Bitcoin Terrorism Financing in Syria: Victoria Jacobs, aka Bakhrom Talipov, was sentenced to 18 years in prison by a New York State court jury after being found guilty of funding Syrian terrorism through Bitcoin. The Manhattan District Attorney’s office said Jacobs was “fully immersed in online terrorist ecosystems,” as per their press release. She played a critical role in “raising and laundering thousands of dollars” for Syrian terrorist groups. (CryptoNews) (AC- The remainder of this article details how she used various means to support terrorists, but hones in on Bitcoin and self-hosted wallets by the terrorist as a key enabler. Obviously this is an agenda-driven article that will be picked up by anti-Bitcoiners))

-Institutional Concerns-

NSTR

-Central Bank Digital Currencies (CBDC)-

NSTR

-Economic Indicators-

1. US 30-Year Mortgage Rate Hits 5-Month Peak: The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances climbed by 5 basis points to 7.29% in the week ending April 26, 2024, while mortgage applications in the US fell by 2.3% from the previous week in the period ending April 26th, extending the two-month-high decline of 2.7% from the earlier week. (TradingEconomics)

2. Fed Expected to Hold Rates Amidst Inflation Concerns: The US Federal Reserve is poised to maintain its policy rate within the 5.25%-5.50% range at the end of its two-day policy meeting this Wednesday, as enduring inflationary pressures and a labor market that remains taut indicate a stall in progress towards lowering inflation back to its 2% target this year. (TradingEconomics)

-Security Incidents and Concerns-

1. New Job Scams Are Flourishing. Young Workers Are Especially Susceptible: Scammers are using information available online to claim a school dean or professor the student knows has recommended them for a job opening. In some cases, the scammers hack into a professor’s emails or create similar addresses to pose as a faculty member urging the student to apply. The goal is to get the student to apply for a job and then steal the college student’s identity or bank information. On a smaller scale, the scammers might be trying to persuade the student to put up money for home-office equipment. (WSJ)

2. Russian Crypto Exchange Unable to Process Withdrawals; Angry Users Try to Storm Offices: Approximately 50 users of Beribit, a Russian cryptocurrency exchange, recently tried to storm the company’s Moscow offices to demand their digital assets. Beribit’s management has attributed the delay in processing withdrawal requests to an audit initiated following the discovery of discrepancies in the exchange’s balance sheet. (BitcoinCom)

-Technology-

NSTR

-Bitcoin Community-

1. Coinbase Now Offers Cheaper And Faster Bitcoin Via Lightning Network: Despite being around since 2017, Coinbase took the time to add this improvement to its platform. The new technology addition is powered by Lightspark, a Lightning Network company founded by David Marcus. (Forbes)

-Bitcoin Sentiment-

1. Fear(0)/Greed(100) Index: 54/100 (Down 13 pts)

Analyst Comments (AC): As inflation and uncertainty increase, so will scams and theft. The article on job scams is just one indicator of the use of criminals using networking sites to target people. The lack of law enforcement on scammers requires individuals to protect and defend themselves in the digital realms as well as physically. Learn and use good OPSEC and security systems to keep yourself and your assets secure.