DIB 20 MAY 2024

BTC Daily Intelligence Bulletin (DIB)
Block: 844,291
DTG/ICOD: 0800EST 20May24
Precedence: Routine (RR)
Controls: Public Release
QQQQ
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BLUF: Iran’s President Dead in Helicopter Crash / Attempted Coup in DR Congo / Gaza Fighting Fierce / Twisters in Midwest / Crypto Regulation Bill Going Through Congress / BTC ETFs Are Busy / Ripple’s Anti-Bitcoin Agenda / BRICS Call for Currency

Market Data: Price: 1 BTC= $66,939, 27.68 oz Gold, .16 Median US House
24hr Hi: $67,402 / Lo: $65,937
Vol: $22B (Up 35%)
Mkt Cap: $1.32T (Even)
HashRate: 669 EH/s
Avg Fee Rate: 10 sats/vBtye (Even)
Nodes: 17,275

—Reports—
-International Events-
1. Iran’s president, foreign minister and others found dead at helicopter crash site: Iranian President Ebrahim Raisi, the country’s foreign minister and several other officials were found dead on Monday. The helicopter also carried the governor of Iran’s East Azerbaijan province, a senior cleric from Tabriz, three crew members and a Revolutionary Guard official, the state-run IRNA news agency reported. IRNA said the crash killed eight people in all, including three crew members, aboard the Bell helicopter, which Iran purchased in the early 2000s. The crash comes as the Middle East remains unsettled by the Israel-Hamas war, during which Raisi, who was 63, under Supreme Leader Ayatollah Ali Khamenei launched an unprecedented drone-and-missile attack on Israel just last month. Khamenei announced Monday that Iran’s first vice president, Mohammad Mokhber, would serve as the country’s acting president until elections are held. (AP)

2. 3 Americans among 50 detained after failed coup in DR Congo: The coup attempt led by self-exiled opposition leader Christian Malanga began around 4 a.m. as gunfire rang out in the capital Kinshasa, Reuters reported. But it was “nipped in the bud,” and Malanga was killed at the presidential palace. Malanga’s son was one of the three US citizens arrested following the attack. “I am shocked by the events of this morning and very concerned by reports of American citizens allegedly involved,” US Ambassador to the Congo Lucy Tamlyn said in a social media post. (NYPost)

3. Fierce fighting in northern Gaza as aid rolls off US-built pier: Israeli forces battled Hamas fighters in the narrow alleyways of Jabalia in northern Gaza on Friday in some of the fiercest engagements since they returned to the area a week ago, while in the south militants attacked tanks massing around Rafah. (ArabNews)

-US Events-
1. Severe Storms, Including Possible Tornadoes, Take Aim At Plains, Midwest: T​his rash of severe weather began in the Plains late Sunday, where it produced more than a dozen reports of tornadoes in parts of Colorado, Kansas and Oklahoma. The storms also produced wind gusts up 100 mph in Salina, Kansas, and 86 mph in Hutchinson, Kansas. (WeatherChannel)

2. US departure from Niger ‘already underway’ ahead of September deadline: America has relied on the west African country as a counter-terrorism hub for more than a decade. Until recently, more than 1,000 U.S. personnel have operated there, most working from an airbase near Agadez, which cost more than $100 million and sits in the country’s center. Those ties began to fray last summer after a coup swapped the ruling government with a military junta known as the National Council for Safeguarding the Homeland, or CNSP. (DefenseNews)

3. US judge blocks Biden-backed rule expanding gun background checks: A federal judge on Sunday blocked the Biden administration from fully implementing a new rule that would require gun dealers to obtain licenses and conduct background checks when selling firearms at gun shows and online. (Reuters)

-Regulatory and Legal-
1. Crypto Industry Rallies Behind House Bill as It Heads Toward Final Vote: The FIT21 legislation to establish a U.S. regulatory regime for digital assets is set for a floor vote next week, and the sector is telling House leaders the effort is “crucial”. The bill would set the Commodity Futures Trading Commission (CFTC) as a leading regulator of digital assets, and would establish consumer protections – including rules around custody of customers’ assets and their treatment in bankruptcy – and set up further guardrails against risky behavior. (CoinDesk)

-Institutional Concerns-
1. Bitcoin ETF volumes hit 7-week high as BTC price nears $67K: Bitcoin is seeing a “surge” in volumes among its new institutional investment products — nearly 1,000 United States firms have bought Bitcoin exchange-traded funds (ETFs). Data from research firm Santiment showed daily spot Bitcoin volumes passing $5 billion.(CoinTelegraph)

-Central Bank Digital Currencies (CBDC)-
1. Ripple’s Anti-Bitcoin Campaign To Promote CBDCs: The drive towards central bank digital currencies is accelerating, with Ripple emerging as the player in this global effort. This raises a paradox: while supporters of cryptocurrency champion decentralization, Ripple’s central role in CBDCs suggests a move towards more centralized control of digital currencies. Ripple is at the forefront of the CBDC revolution, engaging with governments globally to leverage its technology for digital currency development. In May 2023, Ripple launched a dedicated platform to assist central banks, governments, and financial institutions in issuing CBDCs and stablecoins. (Forbes)

2. Russia and Iran Collaborating on Single BRICS Currency, Iranian Ambassador Says: Russia and Iran are collaborating on creating a single BRICS currency, the Iranian ambassador to Russia has claimed. He noted that over 60% of the two nations’ bilateral trade is conducted in Russian rubles and rials, reflecting a shift away from the U.S. dollar. (BitcoinCom) (AC-This report is from 2 days ago, before the news of the Iranian President’s death yesterday)

-Economic Indicators-
NSTR

-Security Incidents and Concerns-
NSTR

-Technology-
NSTR

-Bitcoin Community-
1. Craig Wright Lied to UK Court ‘Extensively and Repeatedly,’ Judge Writes: Judge James Mellor concluded Wright was not Nakamoto, the pseudonymous inventor of Bitcoin, and that he had not authored the cryptocurrency’s foundational document known as the white paper. “I am entirely satisfied that Dr Wright lied to the Court extensively and repeatedly,” Mellor said. “Most of his lies related to the documents he had forged which purported to support his claim.” (CoinDesk)

2. Veteran Trader Peter Brandt Says Peter Schiff Criticizes Bitcoin to Attract Attention, Increase Following: Veteran trader Peter Brandt has accused economist and gold advocate Peter Schiff of leveraging his criticisms of bitcoin to garner attention and increase his social media following. However, Schiff countered, asserting that he is simply offering his candid perspective on the investment risks associated with bitcoin. (BitcoinCom)

-Bitcoin Sentiment-
1. Fear(0)/Greed(100) Index: 74/100 (Up 4 pts)

Analyst Comments (AC): There are certainly some serious geopolitical machinations occurring this last month. Last week the Slovakian PM was targeted in an assassination attempt and now the Iranian President is declared dead after his helo goes down in the mountains in the north of Iran. We may not fully understand the purposes of these events at this point, but narratives will begin to emerge that push agendas associated with these events. Continue to stick with the facts and question the motives of the emerging theories while still working to comprehend the effects of these events. Unrelated events can suggest coordinated efforts but sometimes they are simply coincidence in timing.

Follow us on NOSTR: @Bitcoin Veterans
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Analyst: BV2A
END REPORT
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*NSTR-Nothing Significant To Report