Bitcoin Veterans on Nostr: BTC Daily Intelligence Bulletin (DIB) Block: 875,445 DTG/ICOD: 1200Z 19Dec24 ...
BTC Daily Intelligence Bulletin (DIB)
Block: 875,445
DTG/ICOD: 1200Z 19Dec24
Precedence: Routine (RR)
Controls: Public Release
QQQQ
__________________________
BLUF: IDF Strikes Yemen Ports / South Korean President Impeached, Faces Investigation / US Federal Funding Bill Scrapped, Shutdown Imminent / Defense Budget Passes With Big Raise For Servicemembers / Amazon Workers to Strike / IMF Deal in El Salvador Tweaks Bitcoin Mandate / BinanceUS to Reopen Next Year / Saylor Continues USD and Bitcoin Reserve Emphasis / Fed Cuts .25% But Scares Markets With Inflation Talk / All Gov Must Be In the Cloud, Say CISA / Nexo Donates to Core Devs
Market Data: Price: 1 BTC= $102,027, 39.20 oz Gold, .24 Median US House
24hr Hi: $104,947 / Lo: $98,792
Vol: $96B (Up 23%)
Mkt Cap: $2.02T (Down 3%)
HashRate: 788 EH/s
Avg Fee Rate: 10 sats/vBtye (UP 20%)
Nodes: 20,901
---Reports---
-International Events-
1. Missile fired at Israel, IDF pounds Yemen, believes it paralyzed all 3 Houthi ports: Houthi missile partially intercepted, but warhead hits empty Ramat Gan school, building collapses. Meanwhile, dozens of Israeli Air Force (IAF) aircraft participated in the strikes in Yemen, including fighter jets, refuelers and spy planes, some 2,000 kilometers from Israel. The Houthi targets were struck at the Hodeida port — which Israel has struck twice before — and for the first time, in the rebel-held capital Sana’a, the IDF said. (TimesOfIsrael)
2. South Korea’s impeached leader avoids investigators as court begins meeting to determine his fate: Yoon was impeached by the opposition-controlled National Assembly on Saturday over his Dec. 3 martial law decree. His presidential powers have been subsequently suspended, and the Constitutional Court is to determine whether to formally remove him from office or reinstate him. If Yoon is dismissed, a national election to choose his successor must be held within 60 days. (AP)
-US Events-
1. Bloated federal funding bill is scrapped after Trump-boosted revolt: Scalise affirmed to reporters that the spending package — which would have funded the government until mid-March — is dead, leaving Congress scrambling to come up with a new agreement ahead of a looming government shutdown Saturday. The revolt was spearheaded by Elon Musk, one of Trump’s closest advisers and co-chair of the Department of Government Efficiency (DOGE), as he went on a tirade on X Wednesday against Republicans who supported the stopgap measure. “There’s no new agreement right now, we’re obviously looking at a lot of options,” the Louisiana Rep. Scalise responded. (NYPost)
2. Senate finalizes plans for a massive junior enlisted pay boost in 2025: The $850 billion defense spending policy measure easily passed the chamber 85-14 despite opposition from some Democratic lawmakers who raised concerns about transgender care restrictions in the legislation. The bill passed the House by a 281-140 margin last week, and now heads to the White House for the president’s signature. Around 500,000 troops E-4 and below will benefit from the targeted salary hike, which will increase their base salaries by 10% above the annual military-wide pay adjustment. (MilitaryTimes)
3. Amazon Workers Strike: How It Could Impact Your Holiday Deliveries: Thousands of Amazon workers were expected to walk off the job on Thursday, challenging the e-commerce giant in the final days of its busiest time of year. The nationwide action follows Amazon's repeated refusal to follow the law and bargain with the thousands of unionized Amazon workers, according to the International Brotherhood of Teamsters. The walkout will involve workers from facilities in New York City, Skokie, Illinois, Atlanta, San Francisco and Southern California. Amazon has invested heavily in wage increases. Earlier this year, the retailer announced a $2.1 billion initiative to raise pay for its fulfillment and transportation employees, increasing base wages by at least $1.50 per hour to around $22, which amounts to a nearly 7% increase. (IBTimes)
-Regulatory and Legal-
1. El Salvador’s IMF Deal Modifies Bitcoin Legal Tender Framework: El Salvador's new IMF agreement maintains Bitcoin's legal tender status while making its acceptance voluntary and reducing government involvement, as part of a broader $1.4 billion economic reform package that could unlock additional international funding. (Blockonomi)
2. Binance(dot)US Says it Aims to Restore USD Services Next Year: Binance(dot)US plans to reintroduce USD services in early 2025, following regulatory pressure that led to a suspension of fiat trading in 2023. The interim CEO, Norman Reed, emphasized the inevitability of this move, attributing the delay to regulatory challenges faced by the exchange. (Decrypt)
-Central Bank Digital Currencies/World Currencies-
1. Michael Saylor Raves About the U.S.'s $10 Trillion World Reserve Digital Dollar Opportunity: During an interview on CNBC, Saylor stated that with President-Elect Trump’s victory at the polls, the U.S. could now issue a digital assets framework focused on making the dollar the world’s reserve digital currency. he believes that with the new administration, banks can gain the faculty to issue their dollar-backed stablecoins, opening a potential international market of $10 trillion for the currency. (BitcoinCom)
-Institutional Concerns-
1. Trump-Backed World Liberty Financial Swaps Its cbBTC for WBTC After Sun Joins as Adviser: World Liberty Financial, backed by the Trump family, swapped its $10 million worth of Coinbase-wrapped bitcoin (cbBTC) for Wrapped Bitcoin (WBTC). Wrapped bitcoin is a form of the world's largest cryptocurrency that can be used in decentralized finance (DeFi) on blockchains other than Bitcoin. (CoinDesk) (AC-This may not end well.)
-Economic Indicators-
1. Fed Cuts Interest Rates 0.25%, Warns Future Cuts Will Slow: The Federal Reserve Board cut a key U.S. interest rate 0.25% on Wednesday. The Federal Funds Rate now sits at 4.25-4.50%. The Fed projected that there will only be two interest rate cuts in 2025, down from the four that were previously expected. The number of rate cuts for 2026 was also cut from four to two. "Inflation has made progress toward the Committee's 2 percent objective but remains somewhat elevated," the board said in announcing the rate cut. (IBTimes)
2. Dow Sinks 1100 Points, Longest Losing Streak Since 1974: US equities tumbled on Wednesday as the Federal Reserve reduced interest rates by 25 bps but signaled fewer cuts than previously projected for next year, sparking a market sell-off. The S&P 500 and Nasdaq 100 sank by 2.9% and 3.7%, respectively, while Dow Jones, shed 1123 points, booking its 10th consecutive day of losses, its longest losing streak since 1974. The Fed's widely anticipated rate cut to a target range of 4.25%-4.5% was overshadowed by its forecast of just two rate cuts in 2025, fewer than the four previously expected, which dampened investor sentiment. (TradingEconomics)
-Security Incidents and Concerns-
1. CISA Mandates Cloud Security for Federal Agencies by 2025 Under Binding Directive 25-01: The U.S. Cybersecurity and Infrastructure Security Agency (CISA) has issued Binding Operational Directive (BOD) 25-01, ordering federal civilian agencies to secure their cloud environments and abide by Secure Cloud Business Applications (SCuBA) secure configuration baselines. (HackerNews)
-Technology and Science-
NSTR
-Bitcoin Community-
1. Nexo Steps Up Its Support For Bitcoin, Donating 1 BTC To The Nonprofit Brink: Digital assets management platform Nexo is stepping up its support for the Bitcoin ecosystem, making a 1 BTC donation to the nonprofit organization Brink, which provides funding to developers working on Bitcoin Core. Brink is dedicated to providing financial support to Bitcoin developers through a grants program. Its grants go to developers who are committed to “building, securing, testing and reviewing the Bitcoin Core software”, which is what powers the Bitcoin blockchain. (Bitcoinist)
-Bitcoin Sentiment-
1. Fear(0)/Greed(100) Index: 75/100 (Down 7 pts)
Analyst Comments (AC): NSTR
Follow us on NOSTR: npub1qktts9naunvjdwsktq5xjdhwh539xt4x0mqj4yxq0q9dvm03ljvs6sms0r
____________________
Analyst: BV2A
END REPORT
NNNN
*NSTR-Nothing Significant To Report
Block: 875,445
DTG/ICOD: 1200Z 19Dec24
Precedence: Routine (RR)
Controls: Public Release
QQQQ
__________________________
BLUF: IDF Strikes Yemen Ports / South Korean President Impeached, Faces Investigation / US Federal Funding Bill Scrapped, Shutdown Imminent / Defense Budget Passes With Big Raise For Servicemembers / Amazon Workers to Strike / IMF Deal in El Salvador Tweaks Bitcoin Mandate / BinanceUS to Reopen Next Year / Saylor Continues USD and Bitcoin Reserve Emphasis / Fed Cuts .25% But Scares Markets With Inflation Talk / All Gov Must Be In the Cloud, Say CISA / Nexo Donates to Core Devs
Market Data: Price: 1 BTC= $102,027, 39.20 oz Gold, .24 Median US House
24hr Hi: $104,947 / Lo: $98,792
Vol: $96B (Up 23%)
Mkt Cap: $2.02T (Down 3%)
HashRate: 788 EH/s
Avg Fee Rate: 10 sats/vBtye (UP 20%)
Nodes: 20,901
---Reports---
-International Events-
1. Missile fired at Israel, IDF pounds Yemen, believes it paralyzed all 3 Houthi ports: Houthi missile partially intercepted, but warhead hits empty Ramat Gan school, building collapses. Meanwhile, dozens of Israeli Air Force (IAF) aircraft participated in the strikes in Yemen, including fighter jets, refuelers and spy planes, some 2,000 kilometers from Israel. The Houthi targets were struck at the Hodeida port — which Israel has struck twice before — and for the first time, in the rebel-held capital Sana’a, the IDF said. (TimesOfIsrael)
2. South Korea’s impeached leader avoids investigators as court begins meeting to determine his fate: Yoon was impeached by the opposition-controlled National Assembly on Saturday over his Dec. 3 martial law decree. His presidential powers have been subsequently suspended, and the Constitutional Court is to determine whether to formally remove him from office or reinstate him. If Yoon is dismissed, a national election to choose his successor must be held within 60 days. (AP)
-US Events-
1. Bloated federal funding bill is scrapped after Trump-boosted revolt: Scalise affirmed to reporters that the spending package — which would have funded the government until mid-March — is dead, leaving Congress scrambling to come up with a new agreement ahead of a looming government shutdown Saturday. The revolt was spearheaded by Elon Musk, one of Trump’s closest advisers and co-chair of the Department of Government Efficiency (DOGE), as he went on a tirade on X Wednesday against Republicans who supported the stopgap measure. “There’s no new agreement right now, we’re obviously looking at a lot of options,” the Louisiana Rep. Scalise responded. (NYPost)
2. Senate finalizes plans for a massive junior enlisted pay boost in 2025: The $850 billion defense spending policy measure easily passed the chamber 85-14 despite opposition from some Democratic lawmakers who raised concerns about transgender care restrictions in the legislation. The bill passed the House by a 281-140 margin last week, and now heads to the White House for the president’s signature. Around 500,000 troops E-4 and below will benefit from the targeted salary hike, which will increase their base salaries by 10% above the annual military-wide pay adjustment. (MilitaryTimes)
3. Amazon Workers Strike: How It Could Impact Your Holiday Deliveries: Thousands of Amazon workers were expected to walk off the job on Thursday, challenging the e-commerce giant in the final days of its busiest time of year. The nationwide action follows Amazon's repeated refusal to follow the law and bargain with the thousands of unionized Amazon workers, according to the International Brotherhood of Teamsters. The walkout will involve workers from facilities in New York City, Skokie, Illinois, Atlanta, San Francisco and Southern California. Amazon has invested heavily in wage increases. Earlier this year, the retailer announced a $2.1 billion initiative to raise pay for its fulfillment and transportation employees, increasing base wages by at least $1.50 per hour to around $22, which amounts to a nearly 7% increase. (IBTimes)
-Regulatory and Legal-
1. El Salvador’s IMF Deal Modifies Bitcoin Legal Tender Framework: El Salvador's new IMF agreement maintains Bitcoin's legal tender status while making its acceptance voluntary and reducing government involvement, as part of a broader $1.4 billion economic reform package that could unlock additional international funding. (Blockonomi)
2. Binance(dot)US Says it Aims to Restore USD Services Next Year: Binance(dot)US plans to reintroduce USD services in early 2025, following regulatory pressure that led to a suspension of fiat trading in 2023. The interim CEO, Norman Reed, emphasized the inevitability of this move, attributing the delay to regulatory challenges faced by the exchange. (Decrypt)
-Central Bank Digital Currencies/World Currencies-
1. Michael Saylor Raves About the U.S.'s $10 Trillion World Reserve Digital Dollar Opportunity: During an interview on CNBC, Saylor stated that with President-Elect Trump’s victory at the polls, the U.S. could now issue a digital assets framework focused on making the dollar the world’s reserve digital currency. he believes that with the new administration, banks can gain the faculty to issue their dollar-backed stablecoins, opening a potential international market of $10 trillion for the currency. (BitcoinCom)
-Institutional Concerns-
1. Trump-Backed World Liberty Financial Swaps Its cbBTC for WBTC After Sun Joins as Adviser: World Liberty Financial, backed by the Trump family, swapped its $10 million worth of Coinbase-wrapped bitcoin (cbBTC) for Wrapped Bitcoin (WBTC). Wrapped bitcoin is a form of the world's largest cryptocurrency that can be used in decentralized finance (DeFi) on blockchains other than Bitcoin. (CoinDesk) (AC-This may not end well.)
-Economic Indicators-
1. Fed Cuts Interest Rates 0.25%, Warns Future Cuts Will Slow: The Federal Reserve Board cut a key U.S. interest rate 0.25% on Wednesday. The Federal Funds Rate now sits at 4.25-4.50%. The Fed projected that there will only be two interest rate cuts in 2025, down from the four that were previously expected. The number of rate cuts for 2026 was also cut from four to two. "Inflation has made progress toward the Committee's 2 percent objective but remains somewhat elevated," the board said in announcing the rate cut. (IBTimes)
2. Dow Sinks 1100 Points, Longest Losing Streak Since 1974: US equities tumbled on Wednesday as the Federal Reserve reduced interest rates by 25 bps but signaled fewer cuts than previously projected for next year, sparking a market sell-off. The S&P 500 and Nasdaq 100 sank by 2.9% and 3.7%, respectively, while Dow Jones, shed 1123 points, booking its 10th consecutive day of losses, its longest losing streak since 1974. The Fed's widely anticipated rate cut to a target range of 4.25%-4.5% was overshadowed by its forecast of just two rate cuts in 2025, fewer than the four previously expected, which dampened investor sentiment. (TradingEconomics)
-Security Incidents and Concerns-
1. CISA Mandates Cloud Security for Federal Agencies by 2025 Under Binding Directive 25-01: The U.S. Cybersecurity and Infrastructure Security Agency (CISA) has issued Binding Operational Directive (BOD) 25-01, ordering federal civilian agencies to secure their cloud environments and abide by Secure Cloud Business Applications (SCuBA) secure configuration baselines. (HackerNews)
-Technology and Science-
NSTR
-Bitcoin Community-
1. Nexo Steps Up Its Support For Bitcoin, Donating 1 BTC To The Nonprofit Brink: Digital assets management platform Nexo is stepping up its support for the Bitcoin ecosystem, making a 1 BTC donation to the nonprofit organization Brink, which provides funding to developers working on Bitcoin Core. Brink is dedicated to providing financial support to Bitcoin developers through a grants program. Its grants go to developers who are committed to “building, securing, testing and reviewing the Bitcoin Core software”, which is what powers the Bitcoin blockchain. (Bitcoinist)
-Bitcoin Sentiment-
1. Fear(0)/Greed(100) Index: 75/100 (Down 7 pts)
Analyst Comments (AC): NSTR
Follow us on NOSTR: npub1qktts9naunvjdwsktq5xjdhwh539xt4x0mqj4yxq0q9dvm03ljvs6sms0r
____________________
Analyst: BV2A
END REPORT
NNNN
*NSTR-Nothing Significant To Report