DIB 11 JUL 2024

BTC Daily Intelligence Bulletin (DIB)
Block: 851,682
DTG/ICOD: 1200Z 11Jul24
Precedence: Routine (RR)
Controls: Public Release
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BLUF: NATO Nations Want War Expansion in Ukraine-Russia / Gaza Talks Continue / US Shipping 500 Pounders to Israel / House Passes Voting ID Bill / AOC File Impeachment Articles on Two Justices / Senate Committee Targets Bitcoin Through CFTC / Trump to Speak at Bitcoin Nashville / BTC ETFs Continue Inflows / CPI Data Release Today / Japan Military All-In on AI / New Map Tool for Crypto

Market Data: Price: 1 BTC= $58,625, 24.69 oz Gold, .14 Median US House
24hr Hi: $58,874 / Lo: $57,120
Vol: $25B (Down 8%)
Mkt Cap: $1.15T (Even)
HashRate: 546 EH/s
Avg Fee Rate: 9 sats/vBtye (Even)
Nodes: 19,358

—Reports—
-International Events-
1. Front-line nations sound alarm at NATO summit: Get tougher on Russia: Ukraine and its most ardent supporters within NATO are airing frustrations that the bloc can do more to confront Russia, even as the alliance’s summit in Washington focuses largely on Western efforts to rein in Russian President Vladimir Putin. At the top of the list is getting President Biden to lift restrictions on the use of U.S.- and allied-provided weapons to strike military targets up to 300 miles inside Russian territory. “We’ve already decided that the future of Ukraine is in NATO … and now we have to make practical steps to show that it’s credible, that the way to membership is getting shorter, not longer,” said Icelandic Minister of Foreign Affairs. (TheHill) (AC-Expansion of the war is the push. Economic sanctions aren’t effective against Russia, so the allies want to increase attacks throughout Russia. Meanwhile, US F-16s are about to arrive in Ukraine and the US is sending long-range weapons to Germany. Dangerous times.)

2. CIA director holds Gaza talks with Qatari, Egyptian and Israeli officials: CIA director Bill Burns is meeting senior Qatari, Egyptian and Israeli officials in Doha on Wednesday in hopes of closing remaining gaps in the framework of the Gaza hostage and ceasefire deal and moving to detailed negotiations. (Axios)

3. US to resume shipping 500-pound bombs to Israel, US official says: President Joe Biden’s administration will resume shipping 500-pound bombs to Israel but will continue to hold back on supplying 2,000-pound bombs over concerns about their use in densely populated Gaza, a U.S. official said on Wednesday. (Reuters)

-US Events-
1. House passes GOP bill requiring proof of citizenship to vote, boosting election-year talking point: The legislation, approved largely along partisan lines but with five Democrats voting in favor, is unlikely to advance through the Democratic-led Senate. The Biden administration also says it’s strongly opposed because there already are safeguards to enforce the law against noncitizen voting. (AP)

2. Ocasio-Cortez introduces articles of impeachment against Supreme Court Justices Thomas and Alito: Democratic Rep. Alexandria Ocasio-Cortez of New York has introduced articles of impeachment against conservative Supreme Court Justices Samuel Alito and Clarence Thomas over their failure to disclose gifts they have received while serving on the court – a messaging move that will surely fail in the GOP-controlled House. (CNN)

-Regulatory and Legal-
1. Senate Committee Discusses Strong Federal Oversight of Crypto Markets: The Senate Committee on Agriculture, Nutrition, and Forestry held a hearing on Wednesday where Chairwoman Senator Debbie Stabenow stressed the urgent need for robust regulation in the crypto market. The discussion focused on investor protection, market integrity, and the necessity of federal oversight for digital commodities like bitcoin and ethereum. (BitcoinCom) (AC-Although this committee is mostly unified on this stricter oversight, the recent SCOTUS ruling reining in administrative authority means this agenda would need legislative action or legal ruling to enforce. Either way, it is a real risk to bitcoin adoption and use.)

2. Trump to Speak at Bitcoin Conference in Nashville on July 27: Former President Trump will be speaking at 2 p.m. CT for 30 minutes on the last day of the conference. (CoinDesk)

-Central Bank Digital Currencies-
NSTR

-Institutional Concerns-
1. US spot bitcoin ETFs report $147 million in net inflows, extending positive streak to 4 days: Fidelity’s FBTC led inflows on Wednesday with $57.79 million, according to data from SoSoValue. This was followed by Franklin Templeton’s spot bitcoin fund, which drew in $31.66 million, its largest fund intake since early May. (TheBlock)

-Economic Indicators-
1. US Futures, USTs, and USD Steady Ahead of CPI Report: US stock futures held steady on Thursday as investors braced for a key inflation report that could cement expectations for a Federal Reserve interest rate cut in September. (TradingEconomics)

-Security Incidents and Concerns-
1. Heritage denies hack, calls it a troll-led attention-seeking campaign: The Heritage Foundation, the think tank behind Project 2025, says that it was not hacked and that SiegedSec is exaggerating what has actually happened. (CyberNews) (AC-Media attention on Project 2025, a framework for a new republican president, has been high lately. The FUD focuses on Heritage, the author or the framework, and the ‘catastrophe’ that may occur if said project is implemented.)

-Technology-
1. Japan’s military turns to AI: The Japanese Defense Minister Minoru Kihara believes that AI can help the country keep up with its peers despite its population aging faster than any other country globally. “In our country, where the population is rapidly declining and aging, it is essential to utilize personnel more efficiently than ever before,” stated the minister while unveiling the new policy last week. In Japan, AI will be used in seven priority areas. These include intelligence collection and analysis and monitoring unmanned military assets. The country will also use it to detect targets using radar and satellite images. One key strategy to mitigate some AI risks is to ensure that all systems are manned and controlled by humans at all times. (CoinGeek)

-Bitcoin Community-
1. Electric Capital Unveils New Tool to Map Crypto’s Expanding Ecosystem: Dubbed the Crypto Market Map, the tool categorizes projects into six technological layers, ranging from core infrastructure to end-user applications. The map tracks over 1,500 projects, offering a structured visualization of the sector’s framework. (Decrypt)

-Bitcoin Sentiment-
1. Fear(0)/Greed(100) Index: 29/100 (Up 3 pts)

Analyst Comments (AC): NSTR

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