DIB 31 MAY 2024

BTC Daily Intelligence Bulletin (DIB)
Block: 845,904
DTG/ICOD: 0800EST 31May24
Precedence: Routine (RR)
Controls: Public Release
QQQQ
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BLUF: Biden Secretly Allows US Weapons to Strike Russia / US, UK Airstrike Hit Houthis / Trump Convicted on 34 Counts, World Reacts / mRNA Vax May be Pushed for Bird Flu / Do Kwon Settles with SEC / Univ. of Austin Starts Bitcoin Endowment / Home Routers Hacked / OpenAI Used for 5GW / BTC HashRate ATH

Market Data: Price: 1 BTC= $68,498, 29.17 oz Gold, .16 Median US House
24hr Hi: $67,101 / Lo: $68,348
Vol: $26B (Down 2%)
Mkt Cap: $1.34T (Even)
HashRate: 509 EH/s
Avg Fee Rate: 34 sats/vBtye (Up 11%)
Nodes: 19,282

—Reports—
-International Events-
1. Biden lets Ukraine strike inside Russia with U.S. weapons: President Joe Biden secretly gave Ukraine permission to use American weapons to strike inside Russia, two American officials said Thursday, a U-turn that Kyiv’s allies hope helps turn the tide of the war. On May 15, National security adviser Jake Sullivan took the proposal to the president, making the case that it was common sense for Ukraine to be able to fend off Russian attacks by missiles, troops and bombers before they crossed the border, the official said. (NBC)

2. Houthi rebels say at least 16 killed and 42 others wounded in joint US-British airstrikes in Yemen: Three U.S. officials, speaking on condition of anonymity to describe a then-ongoing attack, described the strikes Thursday as hitting a wide range of underground facilities, missile launchers, command and control sites, a Houthi vessel and other facilities. They called it a response to a recent surge in attacks by the Iran-backed militia group on ships in the Red Sea and Gulf of Aden over the Israel-Hamas war. (AP)

-US Events-
1. Trump conviction heralds a somber and volatile moment in American history: A jury foreperson announced he was guilty on 34 felony charges of falsifying business records to hide a hush money payment to an adult film star. Americans have never seen an ex-president convicted of a crime, and a country already torn apart by bitter political and cultural polarization is likely in for a rocky time. (CNN)

2. mRNA Vaccine Shows Promise Against H5N1 Bird Flu: Researchers claim that an experimental H5N1 avian flu mRNA vaccination prevented severe sickness and mortality in lab mice. Experts claimed that vaccination may help stop H5N1 bird flu epidemics in US wild birds, poultry, and cows. (TechTImes) (AC-No, this article is not satire.)

3. Massive fire breaks out at Illinois farm housing over 1 million chickens: Authorities were alerted to the fire at Farina Farms Inc. Poultry Farm around 6:30 p.m. Wabash Valley Produce as the 24th largest egg producer in the U.S. with locations in Indiana, Illinois and Ohio. (USAToday) (AC-How many farms need to burn down in the US (unattributed) before sabatoge is not seriously considered?)

-Regulatory and Legal-
1.Terraform Labs and CEO Do Kwon to Settle Fraud Case with SEC: Terraform Labs and CEO Do Kwon reach a preliminary settlement with the SEC over allegations of misleading investors. The settlement terms are set to be finalized and submitted for court approval by June 12, 2024. (CryptoNewsFlash)

2. Sen. Cynthia Lummis and Rep. Patrick McHenry press President Biden not to veto SAB 121: In a letter sent on Thursday to President Biden, Republicans Sen. Cynthia Lummis, R-Wyo., and House Financial Services Committee Chair Patrick McHenry, R-N.C., among other lawmakers, cited bipartisan votes in the House and Senate as a reason not to veto. President Biden previously said he planned to veto the measure to repeal the SEC’s staff accounting bulletin, SAB 121. (TheBLock)

-Institutional Concerns-
1. University of Austin And Unchained To Raise $5 Million For Bitcoin Endowment: The initiative aims to raise $5 million in Bitcoin for the University’s endowment, with the University committed to holding the BTC for at least five years. The endowment funds are to be held securely and managed by Unchained, a prominent Bitcoin financial services provider specializing in multisig Bitcoin vaults. (BitcoinMag)

-Central Bank Digital Currencies (CBDC)-
1. Bank Of Canada To Modernize Payment Systems: The Bank of Canada plans to enhance oversight on payment service providers to modernize the country’s financial system, with new regulations starting by September 2025. The BoC is also exploring the rollout of a central bank digital currency (CBDC) to further modernize Canada’s financial architecture. Implementing a CBDC would depend on federal government approval, but it signals a move towards embracing digital currencies to ensure the country’s financial systems remain robust and competitive on a global stage. (Finimize) (AC-Incredible article that shows the positive narratives surrounding the mandate on the implementaion of a CBDC. Cananda leads the way in totalitarian efforts to control it’s populace.)

-Economic Indicators-
1. US Mortgage Rates Rebound Past 7%: The average rate for a 30-year fixed mortgage rose by 9bps to 7.03% as of May 30th. The increase was in line with the jump in long-dated Treasury yields in the period. (TradingEconomics)

2. Treasury Yields Little Changed, PCE Eyed: The yield on the US 10-year Treasury note edged up to 4.56% on Friday, after falling by around 6bps on Thursday, with traders bracing for the key PCE inflation figures due today. (TradingEconomics)

-Security Incidents and Concerns-
1. Hundreds of thousands of US internet routers destroyed in newly discovered 2023 hack: The October incident, which was not disclosed at the time, took more than 600,000 internet routers offline. The researchers said the hackers installed malicious software that disrupted internet access from Oct. 25 to 27 across numerous Midwest states. The internet routers were disabled when a malicious firmware update sent to the company’s customers deleted elements of the routers’ operational code, making them effectively inoperable. (Reuters)

-Technology-
1. OpenAI has stopped five attempts to misuse its AI for ‘deceptive activity’: The artificial intelligence firm said the threat actors used its AI models to generate short comments, longer articles in a range of languages, made up names and bios for social media accounts over the last three months. These campaigns, which included threat actors from Russia, China, Iran and Israel, also focused on issues including Russia’s invasion of Ukraine, the conflict in Gaza, the Indian elections, politics in Europe and the United States, among others. (Reuters) (AC- The use of AI in 5GW is concerning and indicative of the challenging times ahead. The 5th Gen Warfare framework is not just a theory, but a narrative and deceptive battle that is happening in real time against every human brain. Learn how to notice, assess and defend against influence operations like these above.)

-Bitcoin Community-
1. Bitcoin Hashrate Hits Record High, Surpasses Pre-Halving Levels: Bitcoin’s hashrate has rebounded to the historic highs seen just before the fourth reward halving event. According to the seven-day simple moving average, the network’s hashrate reached a record 657 exahash per second (EH/s) this week. (BitcoinCom)

-Bitcoin Sentiment-
1. Fear(0)/Greed(100) Index: 73/100 (Even)

Analyst Comments (AC): We knew this summer would be full of conflict, and now we know some of the elements. A guilty verdict for Trump has fired up his base and his opponents at the same time. There will be political conflict ahead and most likely law enforcement crackdowns on dissent. mRNA are hinted at combatting bird flu which would be the next biological scare and controlling mechanism. THe US food infrastructure continues to be attacked. Meanwhile, the Ukraine-Russia war is dragging the US and NATO into the mix giving worldwide populations existential angst. Now we can understand some of the critical attack vectors and still expect some type of communication outage to increase the FUD. Prepare accordingly, build alternative comms and strenthen communities. Protect your mind and families with truths and generousity.

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