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	Good Tuesday morning. This is Billy Bambrough, getting you up to speed with the latest bitcoin and crypto news.


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24-hour crypto market snapshot

$62,242

$3,794

$489.33

$.0...21

Sky's the limit ✨


	Cryptocurrency prices are painting a mixed picture this morning ahead of the ProShares' bitcoin futures ETF beginning trading today. The bitcoin price has continued to climb towards its all-time highs with bullish traders and investors increasingly predicting it will top the closely-watched $65,000 per bitcoin sometime this week. Ethereum is flat over the last 24-hour trading period with Binance's BNB leading the market higher with a 3% rally. Further down the crypto rankings, dogecoin-rival shiba inu is still on the up even after fee-free trading app Robinhood nixed rumors it was about to list the memecoin, adding 4% on this time yesterday. Dogecoin is meanwhile down by around 5%. Now read this: Bitcoin funds are reaching the masses. Why crypto critics say it’s dangerous

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Big trouble in NYC 🗽



	New York attorney general Letitia James Getty Images


	Cease and desist: New York attorney general Letitia James has ordered two cryptocurrency lending platforms to stop operating in the state, it was reported by Bloomberg. Nexo and Celsius Network were named by the newswire as the letter recipients (it appears the NYAG office left the names in the letter files 😬). The big picture: Regulators in the U.S. are increasingly cracking down on those offering returns on cryptocurrency. Last month, the U.S. Securities and Exchange Commission (SEC) shut down major U.S. crypto platform Coinbase's plans to launch a crypto lending service. In July, the New Jersey attorney general ordered BlockFi to stop offering interest-bearing accounts, it was first reported by Forbes. Coming un-tethered: Meanwhile, Celsius Network's chief executive has said Tether Limited lends out newly-minted tether tokens in return for cryptocurrencies, it was this morning reported by the Financial Times. "If you give them enough collateral, liquid collateral, bitcoin, ethereum and so on ... they will mint tether against it," Alex Mashinsky told the FT. "New USDT is issued for such loans," he added, and later destroyed when the loan is closed "so it does not permanently increase USDT in circulation." Reaction: The FT calls Mashinsky's comments "a claim that calls further into question Tether’s founding promise that it uses only real dollars to issue its tokens," while outspoken crypto-critic Frances Coppola said via Twitter: "Tether's business model resembles that of a central bank, but without the legal restrictions that prevent central banks taking credit risk." The bottom line: Moving fast and breaking things isn't easy in the tightly controlled world of finance. Now read this: Where is Facebook's cryptocurrency?

Invesco bows out 🙇

↩️ As the first bitcoin futures exchange-traded fund (ETF) makes its debut today, investment management giant Invesco, sporting some $1.3 trillion in assets, has shelved its own bitcoin futures ETF application.

🗣️ "We have determined not to pursue the launch of a bitcoin futures ETF in the immediate near-term," an Invesco spokesperson told Bloomberg, described by Decrypt as a move that has "surprised some experts."

🪙 However, Invesco said it will continue its partnership with Michael Novogratz's Galaxy Digital and appears to be setting its sights on a physically-backed bitcoin ETF—giving investors more direct exposure to bitcoin than a futures ETF.

Now read this: Is The New Futures-Based Bitcoin ETF Really An ‘Inferior’ Product?

El Salvador's bitcoin pitch ⚾


	🤝 El Salvador, the Central American country that adopted bitcoin as one of its national currencies alongside the U.S. dollar last month, is putting the cryptocurrency front-and-center of its negotiations with the International Monetary Fund (IMF) over a $1.3 billion loan agreement. 🙈 "We’ve explained openly to the IMF: For us, [digital wallet] Chivo and bitcoin is simply a payment method," El Salvador's central bank president Douglas Rodriguez said in an interview with Bloomberg. "We don’t see any risks. Perhaps, upside risks." 📝 The IMF is due to release its latest review on El Salvador’s finances and economics next month, the newswire reports. Now read this: Crypto puts U.S. and El Salvador in the same boat

	Billy Bambrough
	Forbes Senior Contributor

I am a journalist with significant experience covering technology, finance, economics, and business. I write about how bitcoin, crypto and blockchain can change the world.

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