Block: 851,541
DTG/ICOD: 1200Z 10Jul24
Precedence: Routine (RR)
Controls: Public Release
QQQQ
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BLUF: Biden Kicks Off NATO Meeting in DC / Gaza City Bombarded / China, Russian Ships in Philippine Sea / Carjacker Shot Trying to Take Justice Sotomayor Detail Car / Former Sen. Inhofe Passes / VP Harris on Campaign Trail / Nigeria Continues Crypto Crackdown / Sen. Blackburn Now Takes Bitcoin / Microsoft, Apple Pull Out of OpenAI Board / Largest Password Leak in History
Market Data: Price: 1 BTC= $58,481, 24.59 oz Gold, .14 Median US House
24hr Hi: $59,416 / Lo: $57,014
Vol: $27B (Down 11%)
Mkt Cap: $1.15T (Up 2%)
HashRate: 526 EH/s
Avg Fee Rate: 9 sats/vBtye (Up 80%)
Nodes: 19,257
---Reports---
-International Events-
1. Biden pledges air defenses for Ukraine as NATO summit begins: US President Joe Biden has pledged to provide Ukraine with five new strategic air defense systems to counter relentless Russian attacks, in a forceful speech welcoming NATO leaders to Washington DC. Leaders from the 32 member countries are converging on the US capital for the summit. Joining them is the UK's new Prime Minister Sir Keir Starmer. (BBC)
2. Airstrike kills 25 in southern Gaza as Israeli assault on Gaza City shuts down medical facilities: An Israeli airstrike on a school-turned-shelter in southern Gaza killed at least 25 Palestinians on Tuesday, as heavy bombardment in the north forced the closure of medical facilities in Gaza City and sent thousands fleeing in search of increasingly elusive refuge. (AP)
3. Chinese Carrier Strike Group Operating in Philippine Sea: China’s People’s Liberation Army Navy Shandong Carrier Strike Group is now operating in the Philippine Sea, marking the first time this year that the aircraft carrier has deployed outside of the South China Sea. A joint PLAN-Russian Navy patrol is also currently operating in the Philippine Sea, while Russia also dispatched two corvettes on Monday for an Indo-Pacific deployment. (USNI) (AC-Both China and Russia are operating near Philippine waters and in the middle of the Guam-Okinawa-Philippine area of operations. The message is clear that the alliance is strong in opposition to US-Japan-Philippine alliances.)
-US Events-
1. Would-be carjacker targets Supreme Court Justice Sotomayor security detail officer, suspect shot: Two Deputy U.S. Marshals were on-duty working a protective detail on the 2100 block of 11th Street NW around 1:15 a.m. when Kentrell Flowers, 18, exited a silver minivan and approached one of the unmarked Marshal’s vehicles. Flowers pointed a handgun at the Deputy U.S. Marshal through the driver-side window in an apparent attempt to carjack him, according to police. The Deputy Marshal pulled out his service firearm and fired approximately four times at Flowers through the window, according to a police criminal complaint. A second Marshal from another vehicle also responded and fired his service weapon. (Fox)
2. Former Oklahoma Republican Sen. James M. Inhofe died Tuesday at the age of 89: New York Times, Politico, others criticized for 'offensive' obituaries on deceased former GOP senator. The New York Times, Associated Press, Politico and the Huffington Post all ran headlines critical of former Sen. James M. Inhofe when news of his death broke, all calling him a 'climate change denier' in the headline. (Fox)
3. Harris hits the campaign trail as Biden tries to quiet his critics: Harris, speaking at a campaign event in Las Vegas, laid out the Democratic case against Trump as a tarnished candidate who will adopt far-right policies outlined in the Project 2025 blueprint drafted by his allies. (Politico)
-Regulatory and Legal-
1. Nigeria’s Finance Minister Urges SEC to Tackle Challenges in Regulating Cryptocurrency: The Nigerian Finance Minister, Wale Edun, has urged the newly inaugurated board of the country’s Securities and Exchange Commission (SEC) to address the complexities of regulating cryptocurrencies. He emphasized the need for stringent oversight to maintain market integrity in the capital market. Edun also highlighted the importance of staying informed and adaptable, especially in fast-evolving areas like artificial intelligence, digital currency, and overall digital transitions. (BitcoinCom) (AC-Nigeria will not let up on Bitcoin and crypto. They obviously see it as an existential threat to government control and grift.)
-Central Bank Digital Currencies-
1. Bahamas to force banks to support its CBDC: Sand Dollar was launched in October 2020 as the world’s first central bank digital currency (CBDC). The Central Bank of the Bahamas believed that the digital currency would boost financial inclusion, “reduce service delivery costs and increase transactional efficiency for financial services.” However, nearly four years later, it has failed to receive the uptake the central bank envisioned, forcing Governor John Rolle to explore other strategies. (CoinGeek) (AC-Following Nigeria's example, forcing a CBDC may prove painful to all involved.)
-Institutional Concerns-
1. Republican Senator Marsha Blackburn Now Accepts Bitcoin Donations: Tennessee Senator Marsha Blackburn has announced that her reelection campaign will now accept donations through Bitcoin and other leading cryptocurrencies, including Ethereum, Dogecoin, and Litecoin. (Decrypt)
-Economic Indicators-
1. S&P 500, Nasdaq Notch New Records: The S&P 500 and the Nasdaq both extended their record highs on Tuesday, adding 0.1% each, while the Dow Jones closed 52 points lower after Federal Reserve Chair Jerome Powell's testimony before the Senate. He noted that the central bank is getting closer to considering interest rate cuts and expressed optimism about signs of cooling inflation. (TradingEconomics)
2. US 10-Year Treasury Yield Edges Higher: The US 10-year Treasury note yield edged above 4.3% on Tuesday, rebounding slightly from the over-one-week low of 4.28% from July 5th. (TradingEconomics)
3. Used Car Prices in the US Continue to Fall: The Manheim Used Vehicle Value Index for the US went down 0.6% month-over-month in June 2024, the same as in May, and marking a ninth consecutive month of no growth. (TradingEconomics)
-Security Incidents and Concerns-
1. This is likely the biggest password leak ever: nearly 10 billion credentials exposed: On July 4, a newly registered user on a popular hacking forum posted a file containing nearly 10 billion compromised passwords in plaintext. This gigantic list of leaked passwords known as RockYou2024 provides hackers with an important tool that can be utilized in a brute force attack. Anyone signed up to any service online should assume that a password that they use is on this list. Cybersecurity researchers recommend that users update their passwords and enable multi-factor authentication wherever possible. (Mashable)
2. Cambodia's Huione Guarantee Enables Global Scams Worth $11 Billion: The online platform is said to be linked to the nation's ruling family and allegedly offers services including deepfake scams, money laundering and so-called pig butchering. (CoinDesk)
-Technology-
1. Microsoft and Apple renounce OpenAI board membership: Technology giants Microsoft and Apple have reportedly decided not to take up board seats at the artificial intelligence firm OpenAI amid increasing regulatory scrutiny. The news comes amid the increasing regulatory pressure on Big Tech firms over its potential impact on AI and industry dominance. (CoinTelegraph)
-Bitcoin Community-
1. Bernstein Sees Potential in AI Data Center Pivot for Bitcoin Miners: The report projected that mining firms could derive as much as a third of their future enterprise value from the AI vertical. "Bitcoin miners are emerging as attractive partners to build out AI Data Centers (DC) with ‘ready power interconnect’ and data center operating capabilities," Bernstein explained. (Decrypt)
-Bitcoin Sentiment-
1. Fear(0)/Greed(100) Index: 26/100 (Down 1 pts)
Analyst Comments (AC): The NATO meeting in DC has a deep context this week. On Monday, a missile barrage from Russia struck Kyiv, killing over 30. Timing of the strike is key as a clear NATO message. Meanwhile, India's PM Modi is visiting Putin in Moscow, pledging support and Hungarian PM Orban, a key NATO member, just recently visited both Xi and Putin. This is the 75th anniversary of NATO, designed after WW2 to keep the Soviet Union in check throughout Europe. With the US at the helm of NATO, the alliance has kept the peace throughout Europe while conflict has continued elsewhere. Now as US global leadership declines, the NATO mission is at a crossroads, even as new alliances such as the Shanghai Cooperation Organization (SCO) and BRICS build up as counterweight to NATO. The strategic geopolitics game is in high gear and highlighted by this week's activity. The future is far from certain, while consequences of this game will be borne by the general population and the soldiers carrying out these leaders' orders.
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Analyst: BV2A
END REPORT
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*NSTR-Nothing Significant To Report
