DIB 8 NOV 2024

BTC Daily Intelligence Bulletin (DIB)
Block: 869,428
DTG/ICOD: 1200Z 08Nov24
Precedence: Routine (RR)
Controls: Public Release
QQQQ
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BLUF: Israeli Soccer Fans Attacked in Amsterdam / EU Wrestles With Trump Angst / Newsom Asks for Trump Defense Funds / Susie Wiles Named Trump Chief of Staff / 43 Monkeys Escape Lab in SC / Powell Says “Not Leaving” / 1 Billion in Harris Funds Gone Smells Like Scandal / Detroit Largest City to Accept Bitcoin For Taxes / Another High for BTC ETFs / Fed Lowers Rate 25 BPS / Stocks Higher / Two Crypto Wrench Ransom Attacks / Block Moves Away from Web5 to BTC Mining

Market Data: Price: 1 BTC= $76,047, 28.25 oz Gold, .18 Median US House
24hr Hi: $76,943 / Lo: $74,602
Vol: $59B (Down 11%)
Mkt Cap: $1.50T (Up 2%)
HashRate: 712 EH/s
Avg Fee Rate: 3 sats/vBtye (Up 50%)
Nodes: 18,954

—Reports—
-International Events-
1. Israel sends rescue planes after football fans attacked by mob in Amsterdam: Rioters “actively sought out Israeli supporters to attack” after a football match in Amsterdam as Israel said it was sending planes to the Dutch capital to fly fans home. An unknown number of Israeli supporters were injured in the violence on Thursday night that was condemned by the leaders of both the Netherlands and Israel as antisemitic. Dutch police said five people have been taken to hospital with injuries. Israeli prime minister Benjamin Netanyahu ordered two rescue planes to be sent to Amsterdam after the violence erupted. (IndependentUK)

2. 50 world leaders meet to strategize on how to deal with Trump: Donald Trump’s election win prompted renewed proclamations about the need for unity and autonomy at a gathering of European leaders in the Hungarian capital on Thursday, but beyond the glare of the cameras, there was agitation. At the E.U. and NATO headquarters in Brussels, policymakers have fretted all year about whether Trump could withdraw U.S. support for Ukraine in its war with Russia and upend the Western military alliance that underpins European security. (WaPo)

-US Events-
1. Newsom calls special session to fund California’s legal defense against Trump: Gov. Gavin Newsom on Thursday convened a special session of the Legislature, seeking to increase legal funding to protect California policies — on civil rights, climate change, abortion access and disaster funding — from an anticipated conservative federal agenda. (LATimes)

2. Trump picks Susie Wiles as White House chief of staff, first woman ever in the role: “Susie Wiles just helped me achieve one of the greatest political victories in American history, and was an integral part of both my 2016 and 2020 successful campaigns,” Trump said in a statement. “Susie is tough, smart, innovative, and is universally admired and respected. (CBS)

3. 43 monkeys escape South Carolina research facility; police warn residents to secure doors and windows: The primates broke loose from a Alpha Genesis facility in Beaufort County and as of early Friday, there was no indication the fugitive monkeys had been captured. Authorities said the primates were “very young females weighing approximately 6-7 lbs” and had never been used for testing due to their age. (CBS)

4. US Fed Chair Says Will Not Leave Early If Asked By Trump: Speaking at a press conference after unveiling a quarter point interest rate cut, Powell — whose term as Fed chair ends in 2026 — added that firing any of the Fed’s seven governors was also “not permitted under the law.” If he wanted to, Powell could stay on as a governor after he steps down as Fed chair, and serve out the remainder of his term, which expires in early 2028. (IBTimes)

5. Senior Harris Advisor Deletes X Account As “Massive Scandal” Brews Over $20 Million In Campaign Debt: Former senior Obama advisor-turned-senior Kamala Harris advisor David Plouffe has deleted his X account after suggesting on Wednesday that Harris’ landslide defeat was Joe Biden’s fault for not dropping out soon enough, and right as a massive campaign debt scandal erupts. (ZeroHedge)

-Regulatory and Legal-
1. Detroit to Accept Bitcoin and Ethereum for Taxes, Embraces Blockchain for Economic Growth: Detroit plans to accept popular cryptocurrencies like Bitcoin and Ethereum for tax payments starting mid-2025, aiming to boost economic growth and promote financial inclusivity. The initiative aligns with the city’s strategy to modernize services and embrace blockchain technology. (Decrypt)

-Central Bank Digital Currencies/World Currencies-
NSTR

-Institutional Concerns-
1. BTC investors pour $1.1B into BlackRock ETF as Bitcoin marks another high: On Nov. 7, BlackRock’s spot Bitcoin ETF (IBIT) clocked $1.1 billion in inflows, reclaiming inflow status after two consecutive days of outflows totaling $113.3 million, according to Farside data. (CoinTelegraph)

2. Institutions Driving Bitcoin As Coinbase Premium Gap Hits $100 – Trump Win Brought Back US Demand: The Coinbase Premium Index, a critical metric that tracks the difference between BTC’s price on Coinbase and other exchanges, turned positive for the first time since October 18th, signaling a shift in market dynamics and the return of strong buying interest in the US market. (BItcoinist)

-Economic Indicators-
1. Fed Lowers Rates by 25bps as Expected: The Fed lowered the federal funds target range by 25 basis points to 4.5%-4.75% at its November 2024 meeting, following a jumbo 50 basis point cut in September, in line with expectations. (TradingEconomics)

2. S&P 500, Nasdaq Extend Records After Fed Decision: Stocks in the US mostly higher on Thursday, building on the rally sparked by the presidential election in the previous session, following the Federal Reserve’s widely anticipated 25bps rate cut. The S&P 500 gained 0.7% and the Nasdaq rose by 1.5%, both hitting new records. (TradingEconomics)

3. US Initial Jobless Claims Edge Higher as Expected: The number of individuals filing for unemployment benefits in the US edged higher by 3,000 from the previous week to 221,000 in the last week of October, aligned with market expectations. Despite the slight increase, the count remained well below averages from earlier in the month, continuing to point to some degree of resilience in the US labor market. (TradingEconomics)

-Security Incidents and Concerns-
1. WonderFi CEO Safe After Paying $720,000 Ransom to Kidnappers: Police are investigating the high-profile abduction of Dean Skurka, CEO of Toronto-based crypto firm WonderFi Technologies, who was forcibly taken near University Avenue and Richmond Street on Wednesday evening. Unknown suspects forced Skurka into a vehicle during rush hour, demanding $720k ($1 million Canadian dollars) ransom for his release. The ransom was paid electronically, and Skurka was found safe in Centennial Park, Etobicoke, hours later. (Decrypt) (AC-MultiSig might’ve stopped this.)

2. France’s Schneider Electric Faces $125,000 Ransom Demand: Pay in Monero or Baguettes: Schneider Electric, a French multinational corporation, is being targeted by ransomware group Hellcat, demanding payment in baguettes or $125,000 in crypto to prevent the leak of 40GB of stolen data. The group is known for infiltrating sensitive information and has a history of cyberattacks on the company. (Decrypt)

-Technology and Science-
1. Jack Dorsey’s Block to prioritize bitcoin mining and wind down decentralized tech arm TBD: Block said in its third-quarter shareholder letter on Thursday that the bitcoin mining initiative has a “strong product market fit” and a “healthy pipeline of demand.” With its commitment to bitcoin mining, Block said it will scale back investments in music streaming app Tidal and wind down TBD, which is its business arm focused on developing the decentralized web platform it had dubbed “Web5.” (TheBlock)

-Bitcoin Community-
1. Galaxy Digital’s Next Chapter: Trading Bitcoin Mining for AI Computing: Galaxy Digital announces plans to potentially convert its 800-megawatt Helios mining facility to AI computing operations while reporting decreased Bitcoin production and mining revenue in Q3 2024. (Blockonomi)

-Bitcoin Sentiment-
1. Fear(0)/Greed(100) Index: 77/100 (Up 2 pts)

Analyst Comments (AC): Some days the news is as strange as fiction. Escaped monkeys, French Baguettes, missing campaign money and more…

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