DIB 19 SEP 2024 - Bitcoin Veterans

BTC Daily Intelligence Bulletin (DIB)
Block: 861,965
DTG/ICOD: 1200Z 19Sep24
Precedence: Routine (RR)
Controls: Public Release
QQQQ

BLUF: Exploding Electronics Spook Mideast / Maduro Opposition Strongarmed / Trump Hacked Info Given to Biden / Kentucky Shooter Body Found / House CR Bill Voted Down / Teamsters Favor Trump, Backs Nobody / US Congressman Seeks Binance Exec Release in Nigeria / FBI Seized Crypto Recovery Sites / Australia Pans Retail CBDCs / Blackrock Paper Extolls Bitcoin’s Virtues / US Fed Drops Fed Fund Rate 50 BPS, Stocks Soar / Major Chinese Botnet Effort Exposed by FBI / California Passes AI Laws / Trump Spends Some Bitcoin at PubKey

Market Data: Price: 1 BTC= $62,895, 24.21 oz Gold, .15 Median US House
24hr Hi: $62,984 / Lo: $59,218
Vol: $48B (Up 22%)
Mkt Cap: $1.25T (Up 5%)
HashRate: 557 EH/s
Avg Fee Rate: 3 sats/vBtye (Even)
Nodes: 19,215

—Reports—
-International Events-

Lebanese people talk about fears after pager and walkie-talkie explosions: Electronic devices exploded in south Beirut and other parts of Lebanon for a second day on Wednesday, resulting in casualties and fires, a second attack blamed on Israel. Twenty people were killed and more than 450 wounded in Wednesday’s attack, according to Lebanon’s Ministry of Public Health. On Tuesday, thousands of Hezbollah pagers exploded, killing 12 people and wounding nearly 3,000. (AlJazeera)
Venezuela’s Gonzalez says he was forced to sign letter accepting court ruling of Maduro victory: Venezuela opposition leader Edmundo Gonzalez, who stood against President Nicolas Maduro in July’s election, on Wednesday said he was forced to sign a letter accepting a ruling from the country’s top court which recognized Maduro’s victory. “Either I signed or I faced the consequences,” he said in a statement. Gonzalez is currently in Spain, where he was granted political asylum earlier this month following the issue of a warrant for his arrest in Venezuela. (Reuters)

-US Events-

FBI says Iranian hackers sent unsolicited stolen Trump info to people associated with Biden campaign: Iranian hackers stole sensitive information from the Trump campaign and sent it to people affiliated with President Biden’s now-defunct campaign earlier this summer in an attempt to meddle in the upcoming election, authorities revealed Wednesday. The June to July breach took place before Biden dropped out of the race and was part of “Iran’s efforts to sow discord and shape the outcome of US elections,” the FBI said. (NYPost)
Kentucky highway shooting suspect found dead: Remains likely belonging to 32-year-old Joseph Couch were found in the area off exit 49 of Interstate 75 in Laurel County, the same exit near which the shooting occurred, Kentucky State Police Commissioner Phillip “PJ” Burnett, Jr. said in a news conference. A weapon was also found with the body as well. Couch had been the subject of a manhunt in the southeastern part of the state since five people were shot on Interstate 75 on the evening of Sept. 7. (CBS)
Speaker Johnson’s funding bill with voter integrity add-on defeated in House; 14 Republicans vote with Democrats: The funding measure failed by a vote of 220 to 202. The election bill would require proof of citizenship before voting, but Democrats claim election fraud is already illegal and the new law would only prevent legal voters from turning in their ballot. The government will shut down in 13 days on Oct. 1 unless legislators can agree on a funding bill. (TheBlaze)
Teamsters Union Poll Favors Trump, Won’t Endorse Anyone: The Teamsters Labor Union refuses to endorse either candidate for President of the United States after polling shows their members overwhelmingly support President Trump over VP Harris. Teamsters Poll: Harris: 31% Trump: 58%. Teamsters have historically endorsed the Democrat nominee for President of the United States. (RedWavePress)

-Regulatory and Legal-

US Lawmaker Urges Release of Jailed Binance Employee: Representative James Hill believes the executive, Tigran Gambaryan, has significantly contributed to combating cybercrime in the U.S. and should not be abandoned. Hill expressed concern that the continued detention could strain diplomatic ties between the U.S. and Nigeria. (BitcoinCom)
Lawmaker Flags Concerns Over SEC’s Crypto Approach: Congressman French Hill has raised concerns over the U.S. Securities and Exchange Commission (SEC)’s handling of digital asset regulations, criticizing Chairman Gary Gensler’s leadership for creating legal uncertainty and a politicized approach. The lawmaker highlighted his subcommittee’s legislative successes but expressed frustration with the SEC’s broad and unclear regulations, which he argued burden digital asset firms and stifle innovation. (BitcoinCom)
FBI San Diego seizes digital asset recovery websites: The seized web domains were from MyChargeBack, Payback LTD, and Claim Justice, all digital asset’ recovery’ companies that claim to provide digital asset tracing and the ability to recover lost funds. It added that “they often charge significant upfront fees and ask for a commission should funds be recovered. (CoinGeek)

-Central Bank Digital Currencies-

Australia Finds No ‘Clear Public Interest’ for Retail CBDC: If Australia creates a digital currency, it will likely be the wholesale, not retail, variety. That’s according to a report issued Wednesday (Sept. 18) by the country’s central bank, arguing that “a clear public interest case” for issuing a retail central bank digital currency (CBDC) in Australia has yet to be found. (Pymnts)

-Institutional Concerns-

BlackRock: Why Bitcoin Matters More Than Ever In Today’s Financial Landscape: Authored by key Blackrock executives, a comprehensive Bitcoin paper posits that Bitcoin, created in 2009, stands as the first internet-native monetary instrument to achieve widespread global adoption. The paper outlines three core reasons why Bitcoin is essential: 1. Hard-Coded Supply Cap: BTC’s maximum supply is capped at 21 million units, preventing easy debasement and ensuring scarcity. 2. Global and Digital Nature: Bitcoin can be transported almost instantaneously and at minimal cost across borders, overcoming the traditional frictions associated with transferring value internationally. 3. Decentralization and Accessibility: Bitcoin represents the world’s first truly open-access monetary system, allowing anyone to participate without centralized control. (Bitcoinist)

-Economic Indicators-

Federal Reserve Makes First Rate Cuts Since 2020: The Fed has initiated its easing cycle by lowering its benchmark interest rate by 50 basis points. This marks the first rate cut in four years. The Fed’s decision is driven by a focus on supporting the cooling U.S. labor market and addressing inflation concerns. (Decrypt)
US Futures Soar: Stock futures in the US soared on Thursday, with contracts on the S&P 500 futures rising 1.6%, the Dow Jones gaining over 470 points, and the Nasdaq 100 jumping 2%, rebounding from losses in the previous session, as traders continue to digest the latest FOMC decision. (TradingEconomics)

-Security Incidents and Concerns-

FBI says it has disrupted major Chinese hacking operation that threatened US critical infrastructure: The FBI has used a court order to seize control of a network of hundreds of thousands of hacked internet routers and other devices that Chinese government-linked hackers were using to threaten critical infrastructure in the US and overseas, FBI Director Christopher Wray said Wednesday. As of June, the botnet included over 260,000 hacked devices from all over the world, from North and South America to Australia, according to US officials. Those hacked devices ranged from webcams to DVRs to routers, and about half of them were located in the US, according to Wray. (CNN)

-Technology and Science-

California Passes Two AI Bills That Fight Against Cloning, Deepfakes; Supported by SAG-AFTRA: AB 2602 would prevent companies from using a digital clone of an artist or performer unless the person knows this,and they have legal representatives present. On the other hand, AB 1836 focuses more on personalities who have passed away, with companies now required to obtain explicit permission from their family or estate before creating their “digital replicas,” also including artworks. (TechTimes)

-Bitcoin Community-

Former President Donald Trump Buys Burger With Bitcoin at NYC Bar: Former U.S. President Donald Trump made a historic transaction by using Bitcoin to buy burgers at a Bitcoin-themed bar in Manhattan. Trump was assisted by Bitcoin backers at the bar who helped him with the process of scanning a QR code and approving the transaction. Trump expressed his support for the crypto community and encouraged them to vote in the upcoming election. (Decrypt)

-Bitcoin Sentiment-

Fear(0)/Greed(100) Index: 49/100 (Up 4 pts)

Analyst Comments (AC): NSTR

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