Influential investor **Ross Gerber**, CEO of **Gerber Kawasaki Wealth**, has criticized the tendency to blame cryptocurrencies for money laundering. He pointed out that a **Financial Times report** revealed drug traffickers favored **Citigroup** for money laundering due to its weaker fraud control mechanisms. Gerber's comments highlight the ongoing debate around cryptocurrency regulation and its potential role in facilitating money laundering.  The **FBI** has warned against unregistered cryptocurrency services, and **Binance** was fined heavily for failing to comply with anti-money laundering regulations. Gerber advocates for focusing on established cryptocurrencies like **Bitcoin** and **Ethereum**, which he considers the “king” and “queen” of the cryptocurrency world.

Influential investor and CEO of&nbsp;Gerber Kawasaki Wealth, Ross Gerber, has expressed skepticism over the blame often placed on cryptocurrencies in the face of regulatory concerns.
What Happened: On Monday, Gerber took to X, formerly Twitter, to share his views on the ongoing debate around cryptocurrency regulation. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Funny how they always blame crypto for this when we all know the glaring truth. <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://t.co/9xc4iz4kC2">https://t.co/9xc4iz4kC2</a>
&mdash; Ross Gerber (@GerberKawasaki) <a href="https://twitter.com/GerberKawasaki/status/1807935639910076473?ref_src=twsrc%5Etfw">July 2, 2024</a></blockquote>
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&#8220;Funny how they always blame crypto for this when we all know the glaring truth,&#8221; he wrote. Gerber&#8217;s statement came ...<a href=https://www.benzinga.com/markets/cryptocurrency/24/07/39587915/funny-how-they-blame-crypto-says-tesla-bull-ross-gerber-after-report-indicates-citigroup-w alt=&#039;Funny How They Blame Crypto,&#039; Says Tesla Bull Ross Gerber After Report Indicates Citigroup Was Favorite Bank Of Money Launderers: We Know The &#039;Glaring Truth&#039;>Full story available on Benzinga.com</a>

'Funny How They Blame Crypto,' Says Tesla Bull Ross Gerber After Report Indicates Citigroup Was Favorite Bank Of Money Launderers: We Know The 'Glaring Truth'

Tesla Bull Ross Gerber: 'Funny How They Blame Crypto' for Money Laundering

**An Indiana man has admitted to stealing over $37 million in cryptocurrency from nearly 600 victims.** This shocking revelation highlights the growing concerns around **cryptocurrency security** and the need for vigilance among investors. As the digital currency landscape continues to evolve, incidents like this serve as a stark reminder of the **potential risks** associated with investing in cryptocurrencies. With the rise in popularity of digital assets, **scams and thefts** have also escalated, prompting a call for **greater regulatory measures** and **education** for investors to protect themselves from similar frauds.

Indiana Man Confesses to $37 Million Cryptocurrency Heist Affecting Nearly 600 Victims

### BlackRock's Insights on Bitcoin Volatility

BlackRock, the world’s largest asset manager, has recently made headlines by **predicting a continued decline** in Bitcoin's volatility, positioning it as a **stable long-term investment**. During the **Digital Assets Conference**, BlackRock unveiled its findings, emphasizing that Bitcoin's volatility has been steadily decreasing and is expected to continue this trend as **adoption increases** and the asset matures.

![BlackRock Insights](https://static.cryptobriefing.com/wp-content/uploads/2024/08/07081125/BlackRock-2-800x420.png)

### Key Takeaways
- **Bitcoin's Integration**: BlackRock's data indicates that **adding Bitcoin to investment portfolios** can significantly **outperform traditional investments**.
- **Hedge Against Fiat Decline**: The firm highlights Bitcoin's growing role as a hedge against the **decline of fiat currencies**.

At the conference, BlackRock shared that portfolios incorporating Bitcoin showed improved **risk-adjusted returns** across various timeframes. For instance, portfolios with **1%, 3%, or 5% Bitcoin allocations** yielded higher returns over one, two, five, and ten years compared to traditional portfolios.

![Bitcoin Portfolio Impact](https://static.cryptobriefing.com/wp-content/uploads/2024/10/03163602/blackrock-7-scaled.jpeg)

While Bitcoin did introduce slight volatility into these portfolios, the **potential for higher returns** often outweighed the additional risk. A portfolio with a **5% Bitcoin allocation** achieved an impressive **19.1% return** long-term, significantly surpassing the **11% return** from portfolios without Bitcoin exposure.

### Long-Term Holding Benefits
BlackRock emphasized the importance of **long-term holding** for Bitcoin investments. Their analysis revealed that Bitcoin's lowest four-year trailing return remains an impressive **137%**, indicating that holding Bitcoin for three or more years has consistently yielded **positive returns**.

![Volatility Reduction with Time](https://static.cryptobriefing.com/wp-content/uploads/2024/10/03163638/blackrock-8-scaled.jpeg)

Additionally, BlackRock compared Bitcoin to **gold and US Treasuries**, underscoring its **fixed supply**, **decentralized governance**, and **low correlation** with traditional assets, which positions it as a valuable hedge against **declining government trust** and fiat currencies.

BlackRock also acknowledged that, despite Bitcoin's historically elevated volatility, it has been decreasing as the asset matures. The data revealed a **low correlation** with gold (0.1) and the S&P 500 (0.2), highlighting Bitcoin's unique role as an independent asset class.

Lastly, BlackRock positioned Bitcoin as a safeguard against the **declining value of fiat currencies**, particularly the US dollar, which has seen a significant drop since 1913. By offering Bitcoin ETFs, BlackRock is signaling its confidence in Bitcoin's **long-term value** and its increasing significance in financial markets.

BlackRock reveals a steady decrease in Bitcoin volatility, enhancing portfolio returns and establishing it as a reliable asset class.

BlackRock Predicts Bitcoin's Volatility Will Continue to Decline: A New Era for Crypto Investments

### The Identity of Bitcoin's Creator
A **TV documentary maker** has claimed to have uncovered the identity of **Satoshi Nakamoto**, the pseudonymous creator of **Bitcoin**. This revelation is set to air in a new **HBO documentary** on **Wednesday, October 9 at 9 p.m. US Eastern time**.

### Intriguing Developments
As the premiere date approaches, there have been some **intriguing developments** in the cryptocurrency world. A significant amount of **high-value wallets** from the **“Satoshi era”** have been activated for the first time since **2009**. According to **Bitcoin Magazine**, approximately **250 bitcoins**—valued at around **$15 million** at the current rate of **$60,754** per bitcoin—were drained from these dormant wallets in the last two weeks. Although these coins are not officially confirmed to be linked to Satoshi's wallets, they are believed to belong to some of Satoshi’s earliest collaborators, dating back to the inception of Bitcoin when the cryptocurrency was virtually worthless.

![Eamonn Sheridan](https://images.financemagnates.com/user-profiles/6553e4b4-5d84-486a-9165-8a8b3f02bf22_size50.jpeg)

Reveal is next week, and in the lead up around $15mn has been drained from a number of high-value wallets from the “Satoshi era”, activated for the first time since 2009.

The Mystery Unveiled: Satoshi Nakamoto's Identity to Be Revealed in Upcoming HBO Documentary!

Franklin Templeton, a **multi-trillion dollar asset management firm**, has filed for a new **exchange-traded fund (ETF)** that would provide exposure to both **Bitcoin** and **Ethereum**.

### A New Index ETF On The Horizon
The filing, submitted to the **U.S. Securities and Exchange Commission (SEC)**, aims to offer investors a single product that tracks the performance of the two largest cryptocurrencies by market capitalization. This proposed ETF would specifically target **Bitcoin** and **Ethereum**, allowing investors to benefit from the movements of these leading cryptocurrencies.

If approved, the **Franklin Templeton Bitcoin and Ethereum Crypto Index ETF** will be traded on the **Chicago Board Options Exchange (CBOE)**. 

**Bank of New York Mellon**, one of the largest custodians in the U.S., will handle the fund’s cash and cash equivalents, while **Coinbase** will act as the custodian for the Bitcoin and Ethereum tokens within the fund. The fund will be sold in large increments, specifically in blocks of **50,000 shares**. The product's **Net Asset Value (NAV)** will determine the share price, and it will be benchmarked against the **CF Institutional Digital Asset Index**, which tracks market performance for both cryptocurrencies.

![Benzinga Future of Digital Assets Conference](https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/27091545/Benzinga-conference.gif)

### Expanding Franklin Templeton’s Crypto Reach
This filing marks a potential expansion of Franklin Templeton's involvement in the cryptocurrency space. The asset manager already provides clients with exposure to **spot Bitcoin** and **Ethereum ETFs**, highlighting its ongoing interest in broadening its crypto-based offerings. Interestingly, this ETF filing comes shortly after Franklin Templeton announced a collaboration with the **Aptos Foundation** to launch its on-chain U.S. Government Money Market Funds (FOBXX). This product allows investors to access FOBXX through the purchase of the **BENJI** token, showcasing the firm's diversified approach to integrating blockchain technology into traditional finance products.

### BNY Mellon’s Role In The ETF
Bank of New York Mellon is poised to play a significant role in this potential ETF, as the institution will receive its first ETF custody duties following a non-objection letter from the SEC. This regulatory clearance allows BNY Mellon to hold digital assets, with an initial focus on Bitcoin and Ethereum ETFs. While this exemption was granted with certain conditions, SEC Chairman **Gary Gensler** has indicated that BNY Mellon could expand its digital asset custody services if it adheres to specific guidelines.

For those interested in the intersection of traditional finance and digital assets, Benzinga's **Future of Digital Assets** event on November 19 will provide further insights and discussions with industry experts.

Franklin Templeton aims to offer a new index ETF that tracks the performance of Bitcoin and Ethereum, with BNY Mellon as custodian and Coinbase as custodian for the tokens.

Franklin Templeton's Groundbreaking Move: A Dual Bitcoin and Ethereum Index ETF in the Works!

### The Big Reveal
A new **HBO documentary** claims to have **uncovered the identity** of the **pseudonymous creator of Bitcoin**, known as **Satoshi Nakamoto**. This revelation could potentially send **shockwaves** through the cryptocurrency markets and even influence the **U.S. presidential election**, particularly as former President **Donald Trump** has garnered support from Bitcoin enthusiasts.

### About the Documentary
Directed by **Cullen Hoback**, who gained recognition for his series **"Q: Into the Storm"**, the documentary is set to air on **Wednesday at 2 a.m. CET** (Tuesday at 9 p.m. EST).

### Bitcoin's Impact
Since its inception in **2009**, Bitcoin has emerged as a crucial financial phenomenon. It operates on a **decentralized ledger** called the **blockchain**, and serves various purposes:
- A **store of value** for those skeptical of traditional currency.
- A **speculative vehicle** for individuals excluded from conventional financial systems.
- A means of payment for **illegal products and services**.

Supported by influential figures like **Elon Musk**, Bitcoin has evolved into a trillion-dollar asset class, prompting even **central banks** to consider it a competitor.

### Satoshi's Wealth and Mystery
The exposure of Satoshi's identity raises significant questions, particularly regarding his **potential involvement in crimes** facilitated by Bitcoin transactions. Satoshi is estimated to control around **1.1 million Bitcoin**, which could make him one of the world's richest individuals, with a net worth of approximately **$66 billion** if he still has access to the coins.

Interestingly, as the documentary's air date approaches, several high-value wallets from the **"Satoshi era"** have recently become active, with **about 250 bitcoins**—valued at around **$15 million**—being drained from wallets that have been dormant since Bitcoin's early days.

### The Search for Satoshi
Satoshi Nakamoto's identity has been a lingering mystery since the publication of the **Bitcoin white paper** on **October 31, 2008**. Despite numerous attempts to reveal his identity, including high-profile investigations, none have been conclusive. The last public communication from Satoshi was a warning related to **WikiLeaks**.

### Suspects and Community Opinions
Some of the most frequently mentioned suspects include:
- **Hal Finney**
- **Dorian Nakamoto**
- **Nick Szabo**
- **Adam Back**

However, many in the Bitcoin community advocate for Satoshi's right to privacy, arguing that without **proof**—such as a transaction from Satoshi's wallet—claims of identity remain speculative. **Peter McCormack**, a Bitcoin podcaster, emphasized that efforts to unmask Satoshi are irresponsible and could be dangerous.

The revelation could send shockwaves through cryptocurrency markets and beyond.

The Shocking Identity of Bitcoin's Creator Revealed in New HBO Documentary

## The Rise of Linux Malware in Cryptomining

**A new report** has revealed the existence of a Linux malware known as **'perfctl'**, which has been at the center of a **cryptomining campaign** lasting several years. This malware has significantly affected various systems, exploiting vulnerabilities to mine cryptocurrencies without the knowledge of the users.

### What is 'perfctl'?

The **'perfctl' malware** is designed to infiltrate Linux operating systems, allowing attackers to commandeer computing power for **cryptomining**. This malicious software operates stealthily, often remaining undetected while it processes transactions and generates cryptocurrency.

### How Does It Work?

Once installed, **'perfctl'** manipulates system resources to maximize mining efficiency. Its **stealth features** enable it to evade standard security measures, making it a persistent threat within the cryptomining landscape.

### The Implications of This Malware

The presence of **'perfctl'** raises significant concerns regarding the security of Linux systems. Users are urged to ensure their systems are protected against such threats, as the consequences can involve not only financial losses but also severe **system performance degradation**.

### Protecting Yourself Against 'perfctl'

To safeguard against this malware, it is crucial to regularly update your operating system and install robust security measures. **Regular security audits** and monitoring of system performance can help detect any anomalies early on.

This ongoing issue highlights the importance of vigilance in the ever-evolving world of **cryptocurrency** and cybersecurity.

www.bleepingcomputer.com needs to review the security of your connection before proceeding.

Uncovering the Linux Malware 'perfctl': A Hidden Threat in Cryptomining

### **Elon Musk Sounds Alarm on U.S. Bankruptcy**  
Tesla billionaire **Elon Musk** has issued a stark warning that the U.S. could be headed for **bankruptcy** due to its escalating debt situation. Following a staggering **$204 billion** increase in U.S. debt in just one day, Musk's comments have raised eyebrows across the financial world and led some to speculate that this could lead to a significant **surge in Bitcoin prices**.  
  
### **Bitcoin's Recent Price Movements**  
The price of **Bitcoin** has recently dropped to around **$60,000**, erasing much of the gains it had made earlier in the year. This decline coincides with Musk's warning and follows a warning from BlackRock's CEO regarding the **Federal Reserve**.  
  
### **Debt Crisis Intensifies**  
Musk's warning highlights a broader concern about U.S. debt, which has skyrocketed to **$35.669 trillion**. The increase in debt interest payments is projected to hit **$870 billion** this year, exacerbated by the aftermath of inflation and aggressive monetary policies.  
  
### **Potential Bullish Impact on Bitcoin**  
Experts believe that as both political parties fail to adequately address the growing debt crisis, this could create a **bullish environment for Bitcoin**. CK Zheng, from ZX Squared Capital, suggests that the looming U.S. elections might further enhance Bitcoin's appeal as a hedge against traditional financial instability.  
  
### **Geopolitical Tensions and Bitcoin's Role**  
Current geopolitical tensions, particularly in the Middle East, have also affected Bitcoin's price. While Bitcoin is not seen as a safe haven against geopolitical issues like gold, it is increasingly viewed as a hedge against traditional financial risks, such as bank failures and U.S. Treasury sustainability.  
  
![Elon Musk and Bitcoin](https://specials-images.forbesimg.com/imageserve/66fe54c021decb0f2a5dc632/Elon-Musk--Tesla--bitcoin--bitcoin-price--crypto--U-S--dollar--image/960x0.jpg?cropX1=39&cropX2=2252&cropY1=132&cropY2=1602)  
  
As the situation unfolds, many are left wondering how these developments will impact the price of Bitcoin in the coming months.

Tesla billionaire Elon Musk has warned the U.S.'s could collapse into "bankruptcy" due to its debt spiraling out of control—something some think could turbo-charge the bitcoin price...

Tesla Bull Ross Gerber: 'Funny How They Blame Crypto' for Money Laundering

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Other Latest News

Indiana Man Confesses to $37 Million Cryptocurrency Heist Affecting Nearly 600 Victims

BlackRock Predicts Bitcoin's Volatility Will Continue to Decline: A New Era for Crypto Investments

The Mystery Unveiled: Satoshi Nakamoto's Identity to Be Revealed in Upcoming HBO Documentary!

Franklin Templeton's Groundbreaking Move: A Dual Bitcoin and Ethereum Index ETF in the Works!

The Shocking Identity of Bitcoin's Creator Revealed in New HBO Documentary

Uncovering the Linux Malware 'perfctl': A Hidden Threat in Cryptomining

Elon Musk's $35 Trillion Bankruptcy Warning: Is a Bitcoin Price Surge on the Horizon?

Other Latest News

Indiana Man Confesses to $37 Million Cryptocurrency Heist Affecting Nearly 600 Victims

BlackRock Predicts Bitcoin's Volatility Will Continue to Decline: A New Era for Crypto Investments

The Mystery Unveiled: Satoshi Nakamoto's Identity to Be Revealed in Upcoming HBO Documentary!

Franklin Templeton's Groundbreaking Move: A Dual Bitcoin and Ethereum Index ETF in the Works!

The Shocking Identity of Bitcoin's Creator Revealed in New HBO Documentary

Uncovering the Linux Malware 'perfctl': A Hidden Threat in Cryptomining

Elon Musk's $35 Trillion Bankruptcy Warning: Is a Bitcoin Price Surge on the Horizon?