No Cuts for You

A new must-pass bill gives the President of the United States the power to block any Bitcoin transaction. Also, thoughts on the Fed rate and why Bitcoin Miner Bitfarms is preparing a “poison pill” strategy.

Sponsor: http://podhome.fm (http://podhome.fm)

Promo Code: TWIB

LINKS:

• New law grants US president power to block digital asset access (https://cointelegraph.com/news/new-us-law-block-digital-assets)

• Senate Bill Could Open Crypto to U.S. Sanctions, but Industry Trying to Head It Off (https://www.coindesk.com/policy/2024/06/10/senate-bill-could-open-crypto-to-us-sanctions-but-industry-trying-to-head-it-off/?ref=tftc.io)

• Text - S.4443 - 118th Congress (2023-2024): Intelligence Authorization Act for Fiscal Year 2025 | Congress.gov | Library of Congress (https://www.congress.gov/bill/118th-congress/senate-bill/4443/text)

• Powell Admits The Biden Admin Is “Overstating” Jobs (https://www.zerohedge.com/markets/fed-chair-powell-admits-biden-admin-overstating-jobs)

• Philadelphia Fed Admits US Payrolls Overstated By At Least 800,000 (https://www.zerohedge.com/markets/philadelphia-fed-admits-us-payrolls-overstated-least-800000)

• Wall Street Admits The Biggest Economic Shocker: All Jobs In The Past Year Have Gone To Illegal Aliens (https://www.zerohedge.com/economics/wall-street-admits-biggest-economic-shocker-all-jobs-past-year-have-gone-illegal-aliens)

• Bitfarms Adopt ‘Poison Pill’ Strategy to Fend Off Hostile Takeover by Riot Platforms (UPDATED) (https://www.nobsbitcoin.com/bitfarms-adopt-poison-pill/)

• The decision follows Riot Platforms’ recent disclosure that it has acquired a 12% stake in Bitfarms (https://www.reuters.com/markets/deals/riot-platforms-acquires-12-stake-rival-bitfarms-2024-06-06/?ref=nobsbitcoin.com), as well as a rejected $950 million acquisition offer (https://www.nobsbitcoin.com/riot-acquires-9-25-stake-in-bitfarms-following-rejected-950m-takeover-offer/).

Music

• Give My Life by Minno (https://podcastindex.org/podcast/6803256?episode=19370402266)