DIB 27 AUG 2024

BTC Daily Intelligence Bulletin (DIB)
Block: 858,632
DTG/ICOD: 1200Z 27Aug24
Precedence: Routine (RR)
Controls: Public Release
QQQQ

BLUF: Russia Slams Kiev With Missiles, UAVs / Terror Attack in Pakistan Kills 60 / Canada Announces 100% Tariff on China EVs / Chinese Military Plane Violates Japan Airspace / US Judge Halts Biden’s Spousal Amnesty for Illegals / Tulsi Gabbard Endorses Trump / Binance Marks 6 Months in Nigerian Prison for Exec / Russian Looks at Stablecoins for Cross-Border Trade / UAE Investing In Digital Infrastructure / ARRL Paid $1M to Ransomware Gang / Uber Hit with $324M Fine From EU for Data Issues

Market Data: Price: 1 BTC= $62,337, 24.85 oz Gold, .14 Median US House
24hr Hi: $63,973 / Lo: $62,253
Vol: $29B (Up 35%)
Mkt Cap: $1.23T (Down 3%)
HashRate: 490 EH/s
Avg Fee Rate: 3 sats/vBtye (Down 82%)
Nodes: 19,507

—Reports—
-International Events-

Russia launches ‘nightmare’ deadly drone and missile strikes across Ukraine, Kyiv says: The strikes were among the largest such aerial attacks since the war began in 2022, with Russia using at least 127 missiles and 109 drones in an attack that lasted over eight hours, according to Ukrainian President Volodymyr Zelenskyy. Critical infrastructure, the energy sector and railroads were targeted in the attack, Zelenskyy said. The strikes followed Ukraine’s Independence Day celebrations on Saturday. (ABC)
More than 60 killed after terrorist attacks in Pakistan’s Balochistan: Separatist terrorist attacks on police stations, railway lines, and highways in Pakistan’s restive province of Balochistan, coupled with retaliatory operations by security forces, killed more than 60 people, officials said on Monday. The most widespread assault by ethnic insurgents in years forms part of a decades-long effort to win secession of the resource-rich southwestern province, home to major China-led projects such as a strategic port and a gold and copper mine. (JerusalemPost)
Canada Hits China With 100% Tariff On Electric Cars: Prime Minister Justin Trudeau unveiled the new policy which consists of a 100% levy on electric cars and 25% on steel and aluminum. The EV tariff will take effect Oct. 1 and will also include certain hybrid passenger automobiles, trucks, buses and delivery vans. It will be added to an existing 6.1% tariff that applies to Chinese EVs, the government said in a news release. (ZeroHedge) (AC-Given Trudeau’s history with China, this may event may seem surprising, yet the export-driven auto sector in Canada is hurting from the Chinese competition. The industry also backs Trudeau heavily and has been vocal in the competition failures with China. This is also a good lesson of how China will take advantage of a situation if they are given leeway.)
Chinese violation of airspace in Kyushu shocks, confuses Japan: Stunned Defense Ministry officials were scrambling to determine whether a Chinese military plane intentionally or mistakenly violated Japanese airspace off the Danjo Islands in Goto, Nagasaki Prefecture. The incident on the morning of Aug. 26 was the first confirmed intrusion into Japanese airspace by a Chinese intelligence-gathering military aircraft. (AsahiShimbun)

-US Events-

Judge blocks Biden administration from granting legal status to immigrant spouses of U.S. citizens: The order by District Court Judge J. Campbell Barker effectively brings to a halt a large immigration program that opened just last week to an estimated half a million immigrants living in the U.S. without legal status. Most importantly, the program also unlocks a streamlined pathway to permanent residency and, after several years, U.S. citizenship, for eligible immigrants. Judge Barker made his order valid for 14 days but he suggested he could extend it. (CBS)
US Army Private King who fled to North Korea to plead guilty to 5 charges: U.S. Army Private Travis King, who last year ran into North Korea and was taken into custody there, will plead guilty to five charges, including desertion, while taking responsibility for his conduct, his lawyer said in a statement on Monday. (Reuters)
Tulsi Gabbard Endorses Trump: Former Rep. Tulsi Gabbard (I-HI) endorsed former President Donald Trump for president on Monday, noting that during his first term as president, he did not “start any new wars.” On X, Tulsi posted “I was a Democrat for over 20 years. Today, I endorsed Donald Trump for President.” (Breitbart)

-Regulatory and Legal-

Binance calls for US intervention as Tigran Gambaryan’s detention marks 6 months: Binance CEO Richard Teng is urging U.S. intervention as Tigran Gambaryan, an executive at the exchange, reaches six months in deteriorating conditions of Nigerian detention. (CryptoNews)

-Central Bank Digital Currencies-

Bank of Russia Eyes Stablecoins for Cross-Border Transactions: The Bank of Russia is exploring the use of stablecoins in cross-border transactions, considering them as digital financial assets (DFAs) under existing regulations if they have a responsible entity. The initiative may involve a limited group of qualified investors and would require testing for regulatory feasibility. (BitcoinCom)

-Institutional Concerns-

UAE Investment Firms Announce $500 Million Digital Energy Infrastructure Fund: United Arab Emirates-based investment firms Hodler Investments and Gewan Holding have announced plans to launch a $500 million Digital Energy Infrastructure (DEI) Fund. This fund aims to invest in energy infrastructure projects that support the growth of the digital economy. The DEI Fund will invest in a variety of projects, including power generation, data mining, blockchain, decentralized physical infrastructure, and AI. It will also support startups and software development related to these areas. (BitcoinCom) (AC-Look for the UAE to become a powerhouse in the digital world.)
Xapo Bank teams up with trading firm Hilbert Group to launch $200m Bitcoin fund: n an Aug. 27 press release, the Stockholm-headquartered company said that the Bitcoin-denominated hedge fund, set to launch in September, is expected to attract over $200 million in initial capital from Xapo Bank and other investors throughout 2024. The idea behind the initiative is to provide corporates, businesses, and professional investors with opportunities to “generate returns in BTC from institutional-grade structured credit arrangements, which are not available to those participants directly in the market,” (CryptoNews)
BlackRock and Grayscale own 2.96% of Bitcoin circulating supply amid $202 million net inflow: BlackRock’s IBIT dominates with $224.06 million inflow amid varied performance of other Bitcoin ETFs. (CryptoSlate)

-Economic Indicators-

US Durable Goods Order Rise the Most in 4 Years: New orders for manufactured durable goods in the US surged by 9.9% from the previous month in July of 2024, making up for the downwardly revised 6.9% decline in the earlier period, the most since May 2020 and firmly above market expectations of a 5% expansion. (TradingEconomics)
Dollar Index Hits 13-Month Low: The dollar index fell toward 100.5 on Monday, hitting its weakest levels since July 2023 as Federal Reserve Chair Jerome Powell cemented hopes of an interest rate cut in September. (TradingEconomics)

-Security Incidents and Concerns-

American Radio Relay League Paid $1 Million to Ransomware Gang: The attack occurred on May 15 and resulted in multiple systems within ARRL’s internal network being encrypted, including desktops, laptops, and Windows and Linux servers. Last week, the association revealed that the attackers had compromised its on-site systems and most cloud-based systems weeks before deploying file-encrypting ransomware, and that information purchased on the dark web was used for the intrusion. ARRL did not say whether any personal information was compromised in the attack. In July, however, it said that the information of 150 employees, including names, addresses, and Social Security numbers, was likely impacted. (SecurityWeek)

-Technology and Science-

Dutch Data Watchdog Slaps Uber With $324 Million Fine Over Personal Data Sending in the US: Ride-hailing giant Uber has been slapped with a substantial fine by the Netherlands’ privacy watchdog for violating the European Union’s General Data Protection Regulation (GDPR). According to Reuters, the fine stems from Uber’s transfer of drivers’ personal data from the EU to the US. The GDPR imposes strict regulations on the transfer of personal data outside the EU, particularly to countries with less stringent privacy protections. (TechTimes)

-Bitcoin Community-

Semler Scientific Buys More Bitcoin Amid Soaring BTC Adoption: The firm has purchased Bitcoin worth around $5 million, indicating the firm’s growing confidence in BTC. Notably, with the latest purchase, the firm’s total holdings soared past 1K BTC. (CoinGape)

-Bitcoin Sentiment-

Fear(0)/Greed(100) Index: 48/100 (Down 7 pts)

Analyst Comments (AC): NSTR

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