DIB 16 AUG 2024

BTC Daily Intelligence Bulletin (DIB)
Block: 857,033
DTG/ICOD: 1200Z 16Aug24
Precedence: Routine (RR)
Controls: Public Release
QQQQ

BLUF: Ukraine Captures 100 Russians in Kursk / New PM Elected in Thailand / Man Gets 18 Months Prison in UK for Chanting / Peruvian Gang Leader and Murderer Released on US Border Arrested in NY / Hurricane Ernesto to Hit Bermuda / Five Arrested in Matthew Perry’s Death / UAE Court OKs Digital Asset Salary / What Happened Today in 1971? / Iran Clamps Down on Mining / CBDCs Pushed in India, Panned by Conservatives in Canada / Fed Balance Sheet Jumps / Recession Fears Ease / Neuralink Implanted in Second Human / A Great Economy?

Market Data: Price: 1 BTC= $58,168, 23.62 oz Gold, .13 Median US House
24hr Hi: $59,838 / Lo: $56,161
Vol: $34B (Up 6%)
Mkt Cap: $1.15T (Down 1%)
HashRate: 648 EH/s
Avg Fee Rate: 3 sats/vBtye (Down 50%)
Nodes: 19,619

—Reports—
-International Events-

Ukraine Nabs Over 100 Russian Troops in Kursk – Largest Capture in a Single Operation: Ukraine’s Security Service (SBU) special forces captured 102 Russian soldiers on Wednesday Aug. 14 in the Kursk region of Russia, which currently marks the largest single capture of enemy troops and gave Kyiv Post the photo evidence to prove it. SBU sources said the captured soldiers were from the 488th Guards Motor Rifle Regiment and the Chechen “Akhmat” special forces unit who surrendered despite having ample supplies and ammunition. (KyivPost)
Thaksin’s daughter Paetongtarn Shinawatra is elected Thailand’s prime minister: Thailand’s Parliament elected Paetongtarn Shinawatra as prime minister Friday, continuing the legacy of the political dynasty that began with her father Thaksin Shinawatra, one of Thailand’s most popular but divisive political figures. Thaksin, a former Prime Minister, was ousted by a military coup in 2006, which triggered decades of deep political divisions. (AP)
Man Jailed for 18 Months After Chanting ‘Who the F*** Is Allah’ During England Riot: David Spring, of Longfellow Road in Sutton, has been sentenced to 18 months in prison for comments he made during a Downing Street anti-mass migration protest that descended into a riot in the wake of the Southport mass stabbing that left three young girls dead. (Breitbart)

-US Events-

Wanted Peru gang leader arrested in US: Torres-Navarro, 38, was detained in New York state after entering the country illegally at the Texas-Mexico border, a statement from the ICE agency said. He is believed to be the leader of the Los Killers gang and is on Peru’s wanted list. In a statement sent to the BBC, ICE said Torres-Navarro was first arrested on 16 May upon entering the US illegally, and was served a notice to appear for immigration proceedings (AC-AND RELEASED!). About two months later, authorities were notified that he was in fact wanted in Peru, which led to his eventual arrest in the town of Endicott during a “targeted enforcement action” on Wednesday, ICE added. (BBC) (AC-Sometimes foreign media reports what US media outlets will not. In this case, the Peruvian gang leader was stopped and then released in the US. He was arrested in New York 2 months later once ICE found out he was on Peru’s wanted list for killing police and at least 23 others.)
Hurricane Ernesto ramps up to Category 2 as it churns towards Bermuda, poses dangers for coastal US: he storm could intensify even further to become the season’s second major hurricane — Category 3 or stronger — as it crosses 600 miles of the Atlantic before reaching Bermuda early Saturday. (CNN)
Matthew Perry’s death leads to sweeping indictment of 5, including doctors and reputed dealers: Nearly 10 months after the death of Matthew Perry, the long-simmering investigation into the ketamine that killed him came dramatically into public view with the announcement that five people had been charged with having roles in the overdose of the beloved “Friends” star. (AP)

-Regulatory and Legal-

Dubai court recognizes crypto as a valid salary payment: Heaver said that the case involved an employee who filed a lawsuit claiming that the employer had not paid their wages, wrongful termination compensation and other benefits. The worker’s employment contract stipulated a monthly salary in fiat and 5,250 in EcoWatt tokens. (CoinTelegraph)
Nixon ended gold standard 53 years ago today — WTF happened in 1971?: Aug. 15, 2024, marks the 53rd anniversary of the “Nixon Shock,” the day that United States President Richard Nixon eliminated the gold standard for the US dollar. At the time, Nixon claimed that taking the dollar off the gold standard was “temporary” and would “stabilize” the dollar. Noting that Nixon promised his action would “stabilize the dollar,” which has lost 98.5% of its gold value since that day, Neil Jacobs stated, “This is why we ₿itcoin.” (CoinTelegraph)
Iran Escalates Crackdown on Illegal Crypto Mining Amid Severe Power Crisis: Iran is aggressively cracking down on illegal cryptocurrency mining as the nation faces a severe power crisis exacerbated by an intense heatwave. Iranian authorities claim that unauthorized crypto mining has significantly strained Iran’s power grid, leading to widespread industrial disruptions. A bounty program has been launched to encourage citizens to report illegal mining operations. (BitcoinCom)
IMF proposes 85% power tax hike on crypto and AI data centers: The IMF argues that these sectors consume 2% of the world’s electricity and contribute nearly 1% of global emissions. The financial regulator claimed that one Bitcoin transaction uses the same electricity that an average person in Ghana or Pakistan would use in three years. Additionally, it argues a ChatGPT query consumes ten times more electricity than a Google search due to the energy-intensive nature of AI data centers. (CryptoSlate)

-Central Bank Digital Currencies-

Central bank digital currency, financial inclusion in India: As India continues to evolve its financial landscape, Central Bank Digital Currency (CBDC) emerges as a potential tool to drive financial inclusion, particularly in a country where a significant portion of the population remains financially illiterate and vulnerable to fraud. (TimesOfIndia)
Pierre Poilievre Backs Bill to Ban Central Bank Digital Currency in Canada: Pierre Poilievre, leader of Canada’s Conservative Party, backs a bill that seeks to ban central bank digital currency (CBDC) in Canada. He argues that a CBDC would give the government excessive control over finances, threatening privacy and economic freedom. “It’s time to put an end to creating a central bank digital currency in Canada,” he said. (BitcoinCom)

-Institutional Concerns-

Bitcoin Spot ETFs net $11M inflow, despite GBTC loss: On Aug. 15, Bitcoin spot exchange-traded funds (ETFs) recorded a net inflow of $11.11 million, indicating continued investor interest despite outflows from Grayscale Bitcoin Trust (GBTC). (CointTelegraph)
South Korea’s National Pension Service Invests $34M in MicroStrategy Shares: South Korea’s National Pension Service (NPS), the country’s largest institutional investor, has purchased $34 million worth of shares in MicroStrategy, a business intelligence firm known for its large Bitcoin holdings. (Decrypt)

-Economic Indicators-

Federal Reserve balance sheet rises by $2 billion amid rate cut speculation: The Federal Reserve’s balance sheet saw a $2 billion increase week over week, now totaling $7.2 trillion, marking the ninth such increase in the past year, according to FRED. However, the declines have been lessening since May, potentially approaching the start of the fed cutting cycle. (CryptoSlate)
US 10-Year Yield Holds Firm on Upbeat Data: The yield on the 10-year US Treasury note held its recent advance to around 3.9% on Friday as better-than-expected US economic data allayed fears of an imminent recession. (TradingEconomics)
US Stocks Rally On Upbeat US Data: US stocks surged on Thursday as Wall Street responded positively to signals of resilience in the US consumer and labor markets, alleviating recession concerns. The S&P 500 and the Nasdaq marked 6-day winning streak, jumping 1.6% and 2.4%. respectively, and the Dow Jones climbed by 555 points. (TradingEconomics)

-Security Incidents and Concerns-

Crypto Criminals Are Shifting Their Focus to Centralized Exchanges: Centralized exchanges have become the new target for crypto criminals, who have stolen over $1.5 billion in the first half of the year, according to a report by Chainalysis. Attackers are using advanced social engineering tactics, with some even applying for IT jobs at targeted companies. (Decrypt)

-Technology and Science-

Neuralink Achieves Major Milestone: Second Brain Implant Successful, Elon Musk Says: The company has successfully implanted its device in a second patient, demonstrating progress in its mission to restore independence to individuals with paralysis. The initial patient, who received the implant earlier this year, has shown remarkable improvement in controlling digital devices with their thoughts. Activities such as playing video games, browsing the internet, and typing have become possible, offering a new level of freedom and independence. (TechTimes

-Bitcoin Community-
NSTR

-Bitcoin Sentiment-

Fear(0)/Greed(100) Index: 27/100 (Down 2 pts)

Analyst Comments (AC): Economic data continues to improve leading up the November election. One of the key tenets of MMT economics in practice is the controlling of economic activity, yet the timing of such controls is subject to unknown factors discussed behind closed doors. Though the Federal Reserve is not an official government agency, it’s decisions have a large effect on political theater. In the case of this election season, we are heading into an election where recession worries are tamped down, inflation is officially lower in years, and a Fed rate drop is very possible in September. The thinking individual would assess this information as an engineered series of events.

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