Block: 849,817
DTG/ICOD: 1200Z 28Jun24
Precedence: Routine (RR)
Controls: Public Release
QQQQ
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BLUF: North Korea Missile Test Explodes / USS Wasp Headed Towards Eastern Med / Russia Say US Drones Fair Game / Presidential Debate Panics Democrats / Uvalde Police Chief Arrested / SCOTUS Rules Emergency Abortions OK in Idaho / NC Gives Anti-CBDC Bill to Governor / US GDP Anemic / Interpol Disrupts Scam Network in 61 Countries With China's Help / BTC Hashrate Dropping
Market Data: Price: 1 BTC= $61,615, 26.38 oz Gold, .14 Median US House
24hr Hi: $62,293 / Lo: $61,097
Vol: $22B (Up 3%)
Mkt Cap: $1.21T (Even)
HashRate: 574 EH/s
Avg Fee Rate: 8 sats/vBtye (Down 60%)
Nodes: 18,884
---Reports---
-International Events-
1. A North Korean Missile Explodes in the Sky—and a Mystery Emerges: North Korea said it had successfully tested technology for raining down multiple nuclear warheads at once—a top weapons goal for Kim Jong Un and an increased threat to the U.S. and its allies. But, in an unusually pointed rebuke, South Korea denounced the self-declared achievement as a bluff. While the separation of warheads in a MIRV test would occur on the descent, the North Korean missile launched on Wednesday exploded in the flight’s initial stage, a South Korean Joint Chiefs of Staff spokesman said. (WSJ)
2. US sends USS Wasp assault ship and Marines to eastern Mediterranean: The officials stressed that the ship's movement is not an indication that the U.S. is planning to move American citizens out of Lebanon, but that the ship's move "is being done for deterrence purposes and to promote regional stability," said one of the officials. (ABC)
3. Russia warns it can take unspecified measures in response to US drone flights over Black Sea: Russia’s Defense Minister ordered officials to prepare a “response” to U.S. drone flights over the Black Sea, the ministry said Friday, in an apparent warning that Moscow may take forceful action to ward off the American reconnaissance aircraft. (AP)
-US Events-
1. Biden’s disastrous debate pitches his reelection bid into crisis: It was clear a political disaster was about to unfold as soon as the 81-year-old commander in chief stiffly shuffled on stage in Atlanta to stand eight feet from ex-President Donald Trump at what may turn into the most fateful presidential debate in history. Biden ended the night with the Democratic Party in crisis with serious conversations taking place behind the scenes among senior figures over whether his candidacy is now sustainable, two months before the Democratic National Convention. By the time the aged rivals slipped into a bitter debate about who was the best golfer, it was not hard to understand why voters have long told pollsters that they want no part of the choice they have been offered this year. (CNN) (AC-As of this morning, both Michelle Obama and Gavin Newsom are trending heavily on X, indicating possible replacements)
2. Former Uvalde school district police chief charged with child endangerment after shooting that killed 21: Pete Arredondo, 52, was taken in by law enforcement officers and is accused of abandoning and endangering a child, the jail official said. Instead of continuing to engage the 18-year-old gunman — who was locked in a classroom with 33 students and three teachers — officers retreated after an initial burst of gunfire and did not “push forward immediately and continuously to eliminate the threat,” the Justice Department said. (NBC)
3. Supreme Court says emergency abortions can be performed in Idaho: The Supreme Court on Thursday allowed abortions to be performed during certain medical emergencies in Idaho, reinstating a lower court order that blocked the state from enforcing its near-total ban when an abortion is needed to preserve the health of the mother while legal proceedings continue. (CBS)
-Regulatory and Legal-
1. Crypto Unmentioned at First 2024 U.S. Presidential Debate: For its part, the crypto industry is hoping for a Congress and administration that may pass legislation friendlier to digital asset businesses. (CoinDesk)
-Institutional Concerns-
1. US Bitcoin ETF Inflows Reach $21.52M as FBTC and GBTC Lead Gains: U.S. spot bitcoin exchange-traded funds witnessed a second day of inflows as they captured $21.52 million on Thursday. The leader in terms of gains was Fidelity’s FBTC led the pack with a $19 million increase. (BitcoinCom)
-Central Bank Digital Currencies (CBDC)-
1. North Carolina’s CBDC ban bill heads to governor’s desk: House Bill 690 now heads to Governor Roy Cooper for approval after the state’s House passed the bill a 109-4 vote on June 26, a day after the Senate passed the bill in a 39-5 vote. Governor Cooper’s office did not immediately respond to a request for comment on his plan for the bill. (CoinTelegraph)
-Economic Indicators-
1. US GDP Growth Revised Slightly Up: The US economy expanded an annualized 1.4% in Q1 2024, slightly higher than 1.3% in the second estimate, but continuing to point to the lowest growth since the contractions in the first half of 2022. (TradingEconomics)
2. US 10-Year Yield Rises After Presidential Debate: The yield on the US 10-year Treasury note rebounded above 4.3% on Friday as US president Joe Biden and his predecessor Donald Trump clashed in their first debate, with Trump emerging as the stronger candidate ahead of the 2024 elections. (TradingEconomics)
2. US Mortgage Rates Drop to Nearly 3-Month Low: The average rate for a 30-year fixed mortgage fell by 1 bps from the previous week to 6.86% as of June 27th, the lowest in nearly three months, according to Freddie Mac. (TradingEconomics)
-Security Incidents and Concerns-
1. Interpol Disrupts Scam Networks: 6,745 Bank Accounts Frozen, $2M Crypto Seized, 3,950 Arrested: Interpol’s Operation First Light, a global initiative involving 61 countries, has disrupted online scam networks by freezing 6,745 bank accounts and seizing assets worth $257 million, including $2 million in cryptocurrency. The operation targeted phishing, investment fraud, fake online shopping sites, romance, and impersonation scams, leading to the arrest of 3,950 suspects and identifying 14,643 potential suspects worldwide. Operation First Light began in 2023 and concluded with its final tactical phase from March to May 2024. Funded by China’s Ministry of Public Security, the operation ended with a meeting in Tianjin, where participating countries reviewed results, exchanged intelligence, and strategized future actions. (BitcoinCom)
2. Fake Phantom wallet promoted in iOS AppStore drains users funds: A fake Phantom wallet app in the Apple Store is reported to drain assets upon account recovery with a private key. Phantom Wallet and Solana users have been alerted to the fraudulent app mimicking the legitimate Phantom Wallet. The fake app, published by Meta Voxify and with poor 1-star reviews, appears as an ad and deceptively resembles the authentic application developed by Phantom Technologies. (CryptoSlate)
-Technology-
NSTR
-Bitcoin Community-
1. Bitcoin profitable on 4,954 days since inception, 97.9% of its history: Bitcoin’s market history reveals a high percentage of profitable holding days, indicating strong long-term value retention. Glassnode data shows that out of 5,060 days since its inception, holding Bitcoin has been profitable on 4,954 days, representing 97.9% of its total trading days. This metric highlights the consistent upward trajectory of Bitcoin’s value over time. (CryptoSlate)
2. Bitcoin Hashrate Plunges To Lowest Since Early March As Price Remains Bearish: The 7-day average Bitcoin mining hashrate set a new all-time high (ATH) last month, but the metric has since been going through a drawdown. This decline will likely be the bearish momentum the cryptocurrency’s price has been observing. Following the most recent leg down in the mining hashrate, its value has plunged to its lowest since early March. If BTC persists at its current lows or declines further, the indicator will likely extend its fall. (Bitcoinist)
-Bitcoin Sentiment-
1. Fear(0)/Greed(100) Index: 47/100 (Up 7 pts)
Analyst Comments (AC): When we hear of a large international policing effort as described in the article above, you can be certain that this is the result of a mass surveillance program. In other words, some type of communication network has been compromised by a government entity. Examples include PRISM, which revealed NSA spying, leaked by Edward Snowden, and the ANOM program, in which the FBI ran a company that sold privacy phones to criminals (read 'Dark Wire' for more info). In this case, notice that this program was started by China's Ministry of Public Security and handed off to Interpol. Since it involves 'crypto' we can speculate that there is some sort of connection of transaction data with other digital data such as emails and phones. AI is a perfect tool to synthesize this data as has been done in the past. The bottom line is that China now has this capability and is not subject to any Fourth Amendment roadblocks.
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Analyst: BV2A
END REPORT
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*NSTR-Nothing Significant To Report
