Oddbean

BTC Daily Intelligence Bulletin (DIB) Block: 850,227 DTG/ICOD: 1200Z 01Jul24 Precedence: Routine (RR) Controls: Public Release QQQQ __________________________ BLUF: France Elections Move Right / Military Draft Law Ignites Israel / Coordinated Suicide Bombers in Nigeria Kill 30+ / US Left Argue on Removing Biden From Race / SCOTUS To Release Immunity Ruling Today / Bannon Reports to Jail / Chevron Doctrine Ruling Upsets Administrative State / Hawaii Crypto Firms No Longer Need Transmitter License / Stocks Are Booming / Big Tech Tries to Lock up Nuke Power in US / China's Version of Space X Has Accidental Fireworks Show Market Data: Price: 1 BTC= $62,556, 26.81 oz Gold, .15 Median US House 24hr Hi: $63,700 / Lo: $61,262 Vol: $22B (Up 64%) Mkt Cap: $1.23T (Up 2%) HashRate: 537 EH/s Avg Fee Rate: 8 sats/vBtye (Even) Nodes: 19,388 ---Reports--- -International Events- 1. Far right leads first round of France’s parliamentary election in blow to Macron: Marine Le Pen’s far-right National Rally (RN) party led the first round of France’s parliamentary elections on Sunday, taking it closer to the gates of power than ever before. After an unusually high turnout, the RN bloc clinched 33.15% of the vote, while the left-wing New Popular Front (NFP) coalition came second with 27.99% and President Emmanuel Macron’s Ensemble alliance slumped to a dismal third with 20.76%. (CNN) 2. Ultra-Orthodox protest against order to enlist in Israeli military turns violent in Jerusalem: Thousands of Jewish ultra-Orthodox men clashed with Israeli police in central Jerusalem on Sunday during a protest against a Supreme Court order for them to begin enlisting for military service. Tens of thousands of men rallied in an ultra-Orthodox neighborhood to protest the order. But after nightfall, the crowd made its way toward central Jerusalem and turned violent. (AP) 3. At least 30 dead, more than 100 injured after multiple suicide bombings in Nigeria: "The first suicide attack was masterminded by an unidentified woman who sneaked with two children into a wedding reception of a popular young man in Gwoza; she detonated her Improvised Explosive Devices (IEDs), killing herself and many people." No group has claimed responsibility for the bombings. (ABC) -US Events- 1. Top Democrats rule out replacing Biden amid calls for him to quit 2024 race: After days of hand-wringing about Biden's poor night on stage debating Trump, Democratic leaders firmly rejected calls for their party to choose a younger presidential candidate for the Nov. 5 election. Biden, 81, meanwhile, was huddling with family members at the Camp David presidential retreat on Sunday. (Reuters) 2. Supreme Court prepares to issue ruling on Trump immunity and final cases Monday: SCOTUS is expected to hand down its final opinions of the term on Monday morning, resolving the question of whether former President Donald Trump may claim immunity from federal election subversion charges. The court will also decide two cases at the intersection of the First Amendment and social media. At issue are laws enacted in Florida and Texas aimed at stopping social media giants like Facebook and X from throttling conservative views. (CNN) 3. Steve Bannon set to begin 4-month prison sentence for defying congressional subpoena: Bannon will be the second former Trump aide to be imprisoned for a contempt of Congress conviction after Peter Navarro began serving a four-month sentence earlier this year. Both men were convicted for not complying with subpoenas issued to them by the now-defunct House Select Committee that investigated January 6, 2021. The Supreme Court on Friday denied a long-shot effort by Bannon to avoid reporting to prison while he challenges his conviction before the federal appeals court in Washington, DC. (CNN) 4. Supreme Court strikes down Chevron, curtailing power of federal agencies: By a vote of 6-3, the justices overruled their landmark 1984 decision in Chevron v. Natural Resources Defense Council, which gave rise to the doctrine known as the Chevron doctrine. Under that doctrine, if Congress has not directly addressed the question at the center of a dispute, a court was required to uphold the agency’s interpretation of the statute as long as it was reasonable. But in a 35-page ruling by Chief Justice John Roberts, the justices rejected that doctrine, calling it “fundamentally misguided.” (SCOTUSblog) (AC-A surprise big win for anti-administrative proponents, this ruling will have significant repercussions across the US. Look for increases in legal proceedings where a nameless, faceless government agency would have ruled over its citizenry before.) -Regulatory and Legal- 1. Designating Crypto as the Bogeyman Will Not Halt the Nigerian Currency’s Depreciation: Nigerian authorities targeted global cryptocurrency exchanges in a crackdown that began in February. The accusation is that crypto platforms are enabling currency speculators who are blamed for the naira’s rapid depreciation against the U.S. dollar. However, the naira’s resurgence proved short-lived, ending the first half of 2024 as one of the worst-performing currencies. The rise of cryptocurrency use and Nigeria’s thriving parallel market for naira reflect a deeper issue that needs solutions. (BItcoinCom) 2. Hawaii crypto firms no longer need MT license, regulator rules: Cryptocurrency firms in Hawaii are now officially exempt from the requirement to receive a Money Transmitter License (MTL) to run business in the state. Crypto companies will still be responsible for complying with any applicable federal licensing or registration requirements. (CoinTelegraph) -Institutional Concerns- NSTR -Economic Indicators- 1. US Stocks Soar to End June: US stocks extended gains on Friday, with the S&P hitting a new high of 5.5K, the Nasdaq 100 reaching a record level of 19980 and the Dow Jones rising over 220 points, after the Michigan consumer sentiment was revised sharply higher and inflation expectations were lower than previously reported. (TradingEconomics) -Security Incidents and Concerns- 1. Microsoft Provides Another Worrying Update on Russian Data Breach, Says Customer Emails Were Stolen: On Thursday, the tech giant announced that hackers stole customer emails as it further disclosed the scope of the breach. However, it did not specify the number of clients affected or the potential number of stolen emails. (TechTimes) -Technology- 1. Tech Industry Wants to Lock Up Nuclear Power for AI: The owners of roughly a third of U.S. nuclear-power plants are in talks with tech companies to provide electricity to new data centers needed to meet the demands of an artificial-intelligence boom. But instead of adding new green energy to meet their soaring power needs, tech companies would be effectively diverting existing electricity resources. That could raise prices for other customers and hold back emission-cutting goals. (WSJ) 2. A Chinese firm's answer to SpaceX's Falcon 9 blew up in a giant fireball after it accidentally launched during a test: Beijing-based Tianbing Aerospace Technology said it was conducting a first-stage test of the rocket's power system, and that a "structural failure" caused the Tianlong-3 to separate from its launchpad. Had the test been successful, the Tianlong-3 would have remained stationary on the launchpad as its engines fired. (BusinessInsider) -Bitcoin Community- NSTR -Bitcoin Sentiment- 1. Fear(0)/Greed(100) Index: 53/100 (Up 5 pts) Analyst Comments (AC): NSTR Follow us on NOSTR: npub1qktts9naunvjdwsktq5xjdhwh539xt4x0mqj4yxq0q9dvm03ljvs6sms0r ____________________ Analyst: BV2A END REPORT NNNN *NSTR-Nothing Significant To Report https://m.primal.net/IEtb.jpg