Bitcoin holds around $40K as open interest rises

???? BTC | $40,028 (-743, -1.8%)

???? ETH | $2,530 (-80, -3.1%)

???? XRP | $0.86 (-0.035, -3.9%)

???? LTC | $175 (-5, -2.9%)

Bitcoin Futures open interest is ticking upwards again, to its highest level since mid-May. Some estimates show current open interest sitting above $13B, but is notably still adrift of the $27B peak reached in mid-April when Bitcoin reached an all-time high.

House Democrats have formed a working group focusing on cryptocurrencies and potential regulation. The Biden administration has highlighted ransomware and the use of cryptocurrencies in such schemes as a national security threat, raising the spectre of future regulation.

Kim Kardashian promoted Ethereum Max on her social media in a difficult-to-differentiate paid post. Ethereum Max has nothing to do with Ethereum. This highlights a growing problem in cryptocurrencies, where celebrities are increasingly being paid to promote tokens that have arguably questionable value and value propositions.