DIB 25 NOV 2024

BTC Daily Intelligence Bulletin (DIB)
Block: 871,910
DTG/ICOD: 1200Z 25Nov24
Precedence: Routine (RR)
Controls: Public Release
QQQQ
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BLUF: UAE Arrests Three in Rabbi’s Death / Possible Lebanon-Israel Peace Deal / US-Japan Plan for Taiwan ‘Emergency’ / Trump Completes Key Cabinet Picks / AZ County Treasurer Guilty on $38M Theft / Huge Gold Deposit Found in China / MicroStrategy on Track to Own 4% of all Bitcoin / Bitcoin-Backed Loans Coming / Neighbor’s WiFi Could be Used To Hack You / El Salvador May Rent out Volcanos For Mining

Market Data: Price: 1 BTC= $97,550, 36.48 oz Gold, .23 Median US House
24hr Hi: $98,935 / Lo: $95,788
Vol: $55B (Up 17%)
Mkt Cap: $1.93T (Even)
HashRate: 756 EH/s
Avg Fee Rate: 6 sats/vBtye (Down 40%)
Nodes: 19,033

—Reports—
-International Events-
1. The UAE arrests 3 Uzbek nationals for the killing of an Israeli-Moldovan rabbi: Zvi Kogan, 28, an ultra-Orthodox rabbi who went missing on Thursday, ran a kosher grocery store in the futuristic city of Dubai, where Israelis have flocked for commerce and tourism since the two countries forged diplomatic ties in the 2020 Abraham Accords. In a statement Sunday, U.S. National Security Council spokesperson Sean Savett called Kogan’s killing “a horrific crime against all those who stand for peace, tolerance, and coexistence.” (AP)

2. Israeli prime minister approves Lebanon ceasefire deal ‘in principle,’ source says: Israel still has reservations over some details of the agreement, which are still being negotiated and multiple sources stressed that the agreement will not be final until all issues are resolved. A ceasefire agreement will also need to be approved by the Israeli cabinet. (CNN)

3. Japan, US to form missile plan in case of Taiwan emergency, Kyodo says: The United States is creating military contingency plans for Japan and the Philippines in case of a Taiwan emergency, according to Kyodo news agency. Missile units will be deployed at temporary bases in Japan and the Philippines as part of a June joint operation plan with Japan to address Taiwan and China. Japan and the United States are enhancing defense cooperation amid threats from China’s military buildup and North Korea’s nuclear development. (GroundNews)

-US Events-
1. After a Friday night flurry, Trump’s Cabinet is complete: Just two and a half weeks since Election Day, Trump has announced names for 20 key administration roles, including leaders for all 15 executive agencies. Overall, Trump will have to make about 4,000 political appointments, approximately 1,200 of which will require Senate confirmation. The velocity and volume of this process stand in contrast to Trump’s last transition, when he leaned on his more experienced team to make a steady stream of establishment selections. This time around, his appointments escalated into a fire hose as Trump, armed with hindsight and empowered by the GOP, has named anti-establishment loyalists to top positions.(Politico)

2. Arizona county treasurer pleads guilty to embezzling more than $38 million for personal expenses: A former county treasurer pleaded guilty on Thursday to charges of embezzlement by a public official, money laundering and tax evasion after stealing more than $38 million in county funds between 2012 and 2024 to renovate her ranches, buy at least 20 cars and pay for personal expenses for herself and her family. (CNN)

-Regulatory and Legal-
NSTR

-Central Bank Digital Currencies/World Currencies-
1. China Discovers 1,000-Tonne Gold Deposit in Hunan Province: Chinese geological authorities have discovered a massive gold deposit containing over 1,000 tonnes of gold worth $83 billion in Hunan Province’s Wangu field, with high-grade ore and potential for additional finds in surrounding areas. (Blockonomi) (AC-Gold supply is NOT fixed.)

-Institutional Concerns-
1. MicroStrategy on track to own 4% of all bitcoin over next decade: Analysts at research and brokerage firm Bernstein said they expect business intelligence firm MicroStrategy’s bitcoin ownership to rise from 1.7% of the circulating supply to 4% over the next decade, updating their price target for MSTR to $600 by the end of 2025. In their “base case” scenario of MicroStrategy acquiring 4% of bitcoin’s circulating supply by the end of 2033, the firm would hold approximately 830,000, or $830 billion worth of the cryptocurrency at a price of $1 million per bitcoin, the analysts said. (TheBlock)

2. Cantor Fitzgerald and Tether Are Discussing a Bitcoin-backed Lending Program: Cantor Fitzgerald is in talks for a Bitcoin-backed lending program with Tether, allowing clients to use Bitcoin as collateral to borrow dollars. The program, starting at $2 billion, may expand as crypto adoption grows, deepening the Wall Street-crypto relationship. (Decrypt)

-Economic Indicators-
1. Dollar Falls as Trump Nominates Bessent for Treasury: The dollar index fell 0.6%, the most in 2 weeks to below 107 on Monday, retreating from two-year highs after US President-elect Donald Trump nominated hedge fund manager Scott Bessent for Treasury Secretary, providing a sense of stability to investors. While Bessent has indicated support for Trump’s tariff and tax cut plans, markets anticipate that he will prioritize economic and market stability over swift policy changes. (TradingEconomics)

-Security Incidents and Concerns-
1. Elite Russian Hackers Use Neighbor’s Wi-Fi for Spy Game Masterpiece: Hackers were able to attack and discovered that there’s a technique to infiltrate the Wi-Fi without being caught. Accounts were protected on web services using 2FA but were not using 2FA on the Wi-Fi network, revealing an important security vulnerability. “This is a fascinating attack where a foreign adversary essentially conducted a close access operation while being physically quite far away,” (TechTimes)

-Technology and Science-
1. Senators call for audit of TSA’s facial recognition tech as use expands in airports: A bipartisan group of 12 senators on Wednesday sent the Department of Homeland Security’s (DHS) inspector general a letter expressing alarm over the widespread use of facial recognition technology at American airports without an audit of privacy protections or any third-party assessment of the technology’s accuracy. The senators questioned whether facial recognition technology is necessary at all, since TSA already uses devices known as CAT-1 scanners — which don’t take images of faces — to determine if passengers’ identification is fake. (RecordedFuture)

-Bitcoin Community-
1. El Salvador toys with renting 170 volcanoes to Bitcoin miners, aims to disrupt industry: The idea, shared in a Nov. 25 social media post on X (formerly Twitter), suggests that miners could tap into the geothermal energy produced by these natural wonders for sustainable Bitcoin mining. “With 170 volcanoes…a ‘rent your volcano to mine Bitcoin’ program might actually make sense.” Bukle posted on X. (CryptoState)

2. Metaplanet Finalizes Exclusive License for Bitcoin Magazine Japan, Aiming to Drive Bitcoin Adoption Across Japan. (Metaplanet X Post)

-Bitcoin Sentiment-
1. Fear(0)/Greed(100) Index: 82/100 (Down 12 pts)

Analyst Comments (AC): NSTR

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