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


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24-hour crypto market snapshot

$49,144

$3,910

$553.76

$90.87

In limbo 🔄


	Cryptocurrency prices wobbled last night, with bitcoin's steady decline over the last 24 hours taking a turn for the worse. The bitcoin price dropped under $50,000, dragging down the wider crypto market and pushing ethereum back under $4,000. Both are down about 3% on this time yesterday. The rest of the crypto top ten, as measured by CoinMarketCap, are down between 3% and 6%, with recent winners terra's luna and polkadot leading the major market lower. One sole climber is Binance's BNB, which has added just over 1% on this time yesterday, with traders cheering Binance's latest regulatory developments (see below for details). Now read this: Washington grapples with how to expand crypto oversight

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Binance builds bridges 🇨🇦 🇧🇭


	Green lights: Binance, the world’s largest cryptocurrency exchange that's attracted regulatory scrutiny this year due to its rapid growth and unconventional corporate structure, has been green lighted by regulators in Bahrain and Canada for its affiliates to operate in the two countries—the latest in a growing list that shows Binance is trying to get onside with regulators around the world. Read the full story on Forbes. Zoom out: Bahrain, the Gulf’s smallest economy, has already established itself as cryptocurrency leader in the Middle East, licensing its first crypto-asset platform in 2019. Why it matters: Binance's move underscores the exchange's increased focus on the Middle East. Desert power: In recent months, Binance executives have held talks with regulators in the United Arab Emirates about a potential headquarters in the country, it was reported by Bloomberg, and last week Binance struck a deal with the Dubai World Trade Centre Authority to cooperate on virtual asset regulation. Earlier this month, Binance said it will launch a new digital asset exchange in Indonesia through a joint venture with a consortium led by MDI Ventures, an investment arm of Telkom Indonesia. Now read this: Welcome To The Metaverse

Billionaire issues fiat warning 💱



	Mexican billionaire Ricardo Salinas Pliego wants people to stay away from fiat currencies Getty Images


	💵 Mexican billionaire Ricardo Salinas Pliego has told his Twitter followers to avoid fiat currencies, calling them "fake money [made] of paper lies." 🗣️ "Stay away from fiat money," Salinas said in a Spanish-language video posted to Twitter. "The dollar, the euro, the yen, the peso—all are the same story. It's fake money [made] of paper lies, and the central banks are producing more money than ever. Invest in bitcoin." 🏦 Earlier this year, Salinas said his bank Banco Azteca was in the process of becoming the first in Mexico to accept bitcoin, however, Mexico's central bank then issued a statement saying that virtual assets like bitcoin are not legal tender and that financial institutions were not authorized to offer crypto transactions. Now read this: In 2021, Congress Has Introduced 35 Bills Focused On U.S. Crypto Policy

	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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