Why BlackRock is Hoarding 6X More Bitcoin Than Miners Produce

A Bitcoin supply shock is building. Institutions and ETFs are buying faster than miners can keep up - creating a shortage most investors haven't noticed. If Bitcoin hits $300K, altcoins could explode 1,000%+. We wrote Crypto Revolution to help you prepare.

Biden Administration Proposes $1B Arms Deal For Israel Amid Rising Middle East Tensions: Report

Benzinga Neuro
May 15, 2024

The Biden administration has reportedly initiated preliminary discussions for a potential $1 billion arms deal with Israel, according to congressional sources.

What Happened: The State Department began discussions with the House Foreign Affairs and Senate Foreign Relations committees about the possible sale on Tuesday, CNN reported on Wednesday. The timeline for official congressional notification of the sale is yet to be determined.

This development follows the Biden administration’s decision to pause the delivery of 2,000-pound and 500-pound bombs to Israel due to concerns over their use in densely populated areas.

The proposed arms deal may include $700 million in tank ammunition, $500 million in tactical vehicles, and $60 million in mortar rounds.

See Also: Biden Vs. Trump Matchup In This Traditionally Red State Shows Republican Party’s Lead Could Shrink Due To

The arms deal, if approved, won’t be immediately fulfilled. It requires official notification to Congress and their approval, a process that could be delayed by potential objections.

Why It Matters: Earlier this month, President Biden urged Israel to avoid a full-scale attack on Rafah, a haven for Palestinians fleeing conflict in other parts of Gaza.

Despite the pause on certain weapons shipments, U.S. officials have reiterated their commitment to Israel’s military capacity for self-defense.

National security adviser Jake Sullivan stated, “We are continuing to send military assistance, and we will ensure that Israel receives the full amount provided in the supplemental.”

These discussions also follow the acceptance of a ceasefire proposal by Hamas, mediated by Egypt and Qatar. However, the proposal was described as a "softened" version of a previous initiative by an Israeli official, raising questions about its effectiveness.

Furthermore, the United Nations General Assembly recently voted in favor of a resolution granting Palestine new "rights and privileges.” This move, along with the ongoing tensions in the region, could potentially influence the approval and timeline of the proposed arms deal.

Read Next: Michael Cohen Says He Never Wanted To Go Into Law, Was Offered $375K To Work For Donald Trump: ‘Going To Be A Lot Of Women Coming Forward’

Photo courtesy: Shutterstock


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