DIB 14 AUG 2024

BTC Daily Intelligence Bulletin (DIB)
Block: 856,734
DTG/ICOD: 1200Z 14Aug24
Precedence: Routine (RR)
Controls: Public Release
QQQQ

BLUF: Japan PM Kishida to Step Down / Ukraine Forces Press Front Near Belgorod / Thai PM Sacked By Ethics Court / DEA Seizes 2,380 Pounds of Meth Hidden in Celery / Biden Admin Approves $20B in Weapons to Israel / Omar Wins Primary in MN / US Army Intel Specialist Guilty of Conspiracy / Vivek Calls Out Harris for Crypto Stance / Iran Offers $20 to Turn In BTC Miners / Goldman Sachs Holds $400M in BTC ETFs / CPI Report Released Today / Fedi Launches SuperApp For Freedom Tech / HODLers Continue to Hold / Riot Buys More of Bitfarms / AirBTC online

Market Data: Price: 1 BTC= $61,404, 24.81 oz Gold, .14 Median US House
24hr Hi: $61,572 / Lo: $58,788
Vol: $29B (Down 13%)
Mkt Cap: $1.21T (Up 4%)
HashRate: 640 EH/s
Avg Fee Rate: 6 sats/vBtye (Up 100%)
Nodes: 19,444

—Reports—
-International Events-
1.Japan’s Prime Minister Kishida to resign, paving way for new leader: Japan’s Prime Minister Fumio Kishida said on Wednesday he would step down next month, succumbing to public disaffection over political scandals and rising living costs that marred his three-year term, and setting off a scramble to replace him. The LDP will hold a contest in September to replace him as president of the party, and, by extension, as prime minister. (Reuters)

  1. Russia’s Belgorod border region declares emergency after Ukrainian incursion: The Russian border region of Belgorod declared an emergency on Wednesday after new attacks by Ukrainian forces, with Kyiv claiming control of hundreds of square miles of Russian territory after its rare cross-border incursion. It was a notable change in tactics for Ukraine and marked the first time foreign troops had entered Russian territory since World War II. Two locations in Belgorod, the city of Shebekino and the village of Ustinka, had been attacked by Ukrainian drones. (CNN)
  2. Thai court dismisses PM for violating constitution: A Thai court has dismissed Prime Minister Srettha Thavisin for appointing to his cabinet a former lawyer who was once jailed. The Constitutional Court ruled that Mr Srettha had violated the “rules on ethics” with “the display of defiant behavior”. (BBC)

-US Events-

  1. Atlanta DEA seizes 2,380 pounds of meth hidden in celery at farmer’s market: It’s the largest-ever seizure of meth made by the DEA in Atlanta, and the third largest nationwide in 2024. The DEA got information that led to the State Farmer’s Market in Clayton County. “This was contained in a cover load of celery,” DEA Atlanta Special Agent in Charge Robert Murphy said. “It was hiding in the celery. Obviously, we threw away the celery. That didn’t make it to the store.” (WSB-TV)
  2. U.S. plans to sell $20 billion in weapons to Israel over several years: The Biden administration approved a deal to sell F-15s, air-to-air missiles and munitions, but much of it won’t arrive in Israel until 2026 at the earliest. Notification of the pending sale was sent to Congress on Tuesday. It includes F-15 fighter jets, 120mm tank ammunition, tactical vehicles, AMRAAM antiaircraft missiles and high-explosive mortars. (WaPo)
  3. Omar breaks ‘Squad’ losing streak with primary victory in Minnesota’s 5th Congressional District, which the Cook Political Report rates as “solid” Democrat. (Fox)
  4. U.S. Army Intelligence Analyst Pleads Guilty to Charges of Conspiracy: Korbein Schultz, a U.S. Army soldier and intelligence analyst, pleaded guilty today to all charges against him in the indictment returned by a federal grand jury in March 2024 charging him with conspiracy to obtain and disclose national defense information, exporting technical data related to defense articles without a license, conspiracy to export defense articles without a license, and bribery of a public official. (DOJ)

-Regulatory and Legal-

  1. Ramaswamy Urges Harris to Clarify Crypto Stance for Partisan Unity: As the U.S. election draws near, cryptocurrency has become a hot-button issue, with Democrats under scrutiny for their perceived antagonism toward the industry. The current administration has overseen regulatory enforcement measures that contribute to the party’s image as anti-crypto. With crypto’s growing relevance on the political scene, Ramaswamy urged Harris to clarify her position on key cryptocurrency issues, such as her views on self-custody or comment on Gary Gensler’s tenure as SEC chair. (DailyCoin)
  2. Iran offers $20 to report on shady crypto miners amid ongoing power crisis: Iran is now offering rewards of $20 to the public for reporting illegal crypto mining activities as the country faces severe power shortages exacerbated by an intense heatwave and energy crisis. (CryptoNews)

-Central Bank Digital Currencies-
NSTR

-Institutional Concerns-

  1. Coinbase teases ‘cbBTC’ days after BitGo Wrapped Bitcoin controversy: Coinbase has just teased the possible launch of a new product called “cbBTC,” with many commentators speculating that the United States-based crypto exchange is launching its own wrapped Bitcoin token. (CoinTelegraph)
  2. Goldman Sachs Holds Over $400M in Bitcoin ETFs: The investment bank in its quarterly 13-F report disclosed that it holds positions in seven out of the 11 BTC ETFs in the U.S. (CoinDesk)

-Economic Indicators-

  1. CPI Report Today: July’s consumer-price index is due at 8:30 a.m. ET. The expected CPI is 3.0%. (WSJ)
  2. US PPI Rise Less than Expected: Factory gate prices in the US increased 0.1% month-over-month in July 2024, following a 0.2% rise in June and below forecasts of 0.2%. Prices of goods rose 0.6%, the most since February, mainly due to energy (1.9%). Gasoline advanced 2.8%, diesel fuel, meats, jet fuel, fresh fruits and melons, and basic organic chemicals also increased. (TradingEconomics)
  3. US Mortgage Applications Soar the Most in 18 Months: Mortgage applications in the US surged by 16.8% from the previous week in the period ending August 9th, the sharpest weekly increase in mortgage applications since January of 2023, and extending the 6.9% jump in the previous week. (TradingEconomics) (AC-The recent slight dip in mortgage rates fueled this spike, revealing pent-up demand.)

-Security Incidents and Concerns-

  1. DDoS Attacks Surge 46% in First Half of 2024: The number of DDoS attacks in H1 2024 has increased by 46% compared to the same period last year, reaching 445K in Q2 2024. Compared to data for the previous six months (Q3–4 2023), it increased by 34%. (HackerNews)

-Technology and Science-

  1. Fedi Combines Bitcoin And Other Freedom Tech With Community: In 2022, Obi Nwosu had a vision to empower disenfranchised communities worldwide with technology that could help them more easily custody and use their bitcoin. As of August 6, 2024, that vision became a reality when Fedi launched its superapp, which is much more than just a platform for money management. The app leverages what Nwosu refers to as “freedom technologies” like Bitcoin, Lightning and Nostr. It also employs the Fedimint protocol, which enables users to share custody of bitcoin; utilize the Lightning Network; and mint ecash, digital tokens pegged to the value of bitcoin, fiat currencies or other assets that are used to preserve privacy in transactions. (BitcoinMag)

-Bitcoin Community-

  1. 45% of Bitcoin supply has not moved in 6 months: Analyzing the realized cap HODL waves indicator, Glassnode reveals that just over 45% of all bitcoins have remained dormant in their wallets for at least the past half a year. Despite the record highs and subsequent volatility, a considerable swathe of market participants prefer to do nothing. (CoinTelegraph)
  2. Riot increases Bitfarms ownership stake following board member removal: Riot Platforms has announced an increase in its ownership stake in Bitfarms Ltd. to 18.9%, intensifying its influence over the Canadian Bitcoin mining firm. This development follows Riot’s acquisition of an additional 1 million common shares of Bitfarms. (CryptoSlate)
  3. AirBTC: Pay Vacation Rentals in Bitcoin: AirBTC is a new platform that allows Bitcoiners to rent holiday properties from other Bitcoiners. It is similar to AirBnB, but it only accepts bitcoin as payment. (H17n)

-Bitcoin Sentiment-

  1. Fear(0)/Greed(100) Index: 30/100 (Down 1 pts)

Analyst Comments (AC): NSTR

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