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- BlackRock CEO becomes Bitcoin CMO?
Howdy, it's Sheriff Big Joe Crypto.
I'm patrolling the wild frontier of crypto town, helping you saddle up for the most informed decisions in this digital gold rush.
Here's what's happening:
🤑 BlackRock CEO says crypto is digital gold
🤝 2 teens in Canada steal over $4.2 Million in crypto
🏢 Gemini sues DCG in a New York court
Got big crypto questions?
BIG MOVERS: THE CHARTS
*Prices as of 1:16 PM EST. BIG Movers based on top 300 cryptos by market cap.
TODAY’S BIG STORY
Larry Fink Is Telling Us, Wall Street Wants Bitcoin
In a surprising twist worthy of a Hollywood blockbuster, Larry Fink, the CEO of BlackRock, has made a dramatic turn and VERY public, towards Bitcoin.
Why is this a big deal?
This is really big news for Bitcoin lovers worldwide because Fink once approached the crypto realm with a hefty dose of skepticism, but it seems that he's now singing a different tune.
How different is that tune you ask?
Well, in 2017 Fink called Bitcoin a money launderer’s dream…
Now, in an interview with Fox Business, Fink elevated Bitcoin from its former status as a digital delinquent to that of "digital gold," labeling it as a bona fide international asset.
Fink even said crypto represents “hope” – much like our boy Michael Saylor.
"What we’re trying to do with crypto is make it more democratized and make it much cheaper for investors," Fink declared. This is a stark departure from his previously cautious stance on crypto.
📜 Reading Between The Lines
Fink’s comments come on the heels of BlackRock’s application to offer a Bitcoin ETF, a venture that hit a speed bump last week when the SEC deemed the application as "inadequate". Nevertheless, BlackRock is holding its ground, with Nasdaq resubmitting the application on Monday.
🤔 Why you should care:
Do you remember Michael Saylor tirelessly touting Bitcoin as digital gold?
If not, he’s posted stuff like this on Twitter like a zillion times (yes, zillion with. a ”z”).
And even with Saylor’s over one zillion Twitter posts, Wall Street seemed to largely dismiss these proclamations. However, it now appears that Wall Street's own titan, Larry Fink, is echoing those very sentiments.
For investors, Fink's shifting stance on Bitcoin is a significant indicator. It could signal a broader acceptance of cryptocurrencies among the giants of traditional finance. Alternatively, it might be a savvy marketing move to stir up interest in BlackRock's ETF. Either way, one thing is clear: Bitcoin and its crypto kin are becoming increasingly hard to ignore.
More Big News…
Two teens steal over $4 Million in Crypto! 💰👦
Crypto heists…
They’re not just for shadowy hackers in far-off lands anymore. Now, they’re a weekend pastime for Canadian teens with a knack for digital disguises.
What’s the big issue?
In case you haven’t heard, two 17-year-old boys from Hamilton, Canada, have been hauled into the legal spotlight. Their crime - a spectacular "spear-phishing" attack that scored them a cool $4.2 million in Bitcoin and Ethereum.
If you're wondering, “spear-phishing” isn’t a new winter sport; it's a cyberattack that singles out particular individuals. It's the evil twin of regular “phishing attacks”, where scammers target victims for their data and assets.
In this crypto crime thriller, the teens donned the guise of Coinbase Support and convinced a U.S. citizen to hand over the keys to his crypto kingdom.
But here's where it gets even juicier...
The young crypto villains weren't just squirreling away their ill-gotten gains.
They reportedly spent some of the stolen digital funds on acquiring the Instagram handle “@Zombie.”
Crypto-related crimes are rising in lockstep with the expansion of the industry itself. These teens, armed with nothing more than ingenuity and a computer, managed to drain millions from an unsuspecting victim's crypto account. It underscores the glaring need for robust cyber-security practices within our community.
🤔 Why you should care:
This incident serves as a sobering reminder of the risks associated with the crypto and digital assets in general.
As the crypto sphere expands, it becomes a lucrative target for cybercriminals. Hence, the need for vigilance and robust security practices can't be overstated.
Organizations like the FBI, U.S. Secret Service Electronic Crimes Task Force, and other enforcement agencies are enhancing their collaborative efforts to combat crypto crimes.
But remember, the first line of defense against such crimes starts with individual users exercising caution and diligence. Stay smart, stay safe.
And if you wanna learn more about how to keep your crypto safe from hackers, check out this simple crypto security guide.
TODAY'S BIG CRYPTO TIP
🔒 Be Smart, Be Skeptical, Be Safe.
It can be a jungle out there in the crypto world – and the scammers who pretended to be from Coinbase make this more obvious than ever.
Devious scams can often wear the mask of your trusted crypto platform, just waiting for you to slip up.
So let's lay out some crucial advice:
1️⃣ If you ever receive an email, text message, or phone call that appears to be from your crypto platform or wallet provider, and something just doesn't sit right – take a pause.
2️⃣ Don't be embarrassed to question it. Even if it looks official, even if it looks like it's from a trusted source, it’s okay to be skeptical. In fact, it's smart.
3️⃣ Reach out to the official support channels of your platform or service and ask them to confirm if the communication is legitimate. They're there to help, and they’d much rather you be safe than sorry.
4️⃣ And remember, always look out for those red flags. Official support will never ask for your password or the key to your crypto vault.
As the old saying goes, "Forewarned is forearmed." Staying alert and informed is the best defence against the dark arts of crypto scams.
Stay smart, stay safe, and happy crypto investing!
MORE BIG HEADLINES
🏢 Being that 332,000+ Gemini Earn users have funds trapped on DCG, Gemini decides to sue DCG in a New York court.
💻️ Reports surface of 3 major execs quitting Binance. But Binance head CZ clears the air in this Twitter post.
💰️ Presidential candidate Robert F. Kennedy Jr. reportedly owns up to $250,000 in Bitcoin.
BIG LAUGHS! TODAY MEME 😂 🤣
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DISCLAIMER: Nothing in this communication, or from Big Joe Crypto and associated bigjoecrypto.com domains is financial advice. It’s all educational and is not investment advice, a recommendation or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful, stay rational, and do your own research (DYOR).