Celsius sues Tether for $3.5B, Morgan Stanley’s Bitcoin ETF ‘death wish’

Bitcoin’s strong recovery last week led some to believe it may have established itself above the $60,000 psychological level, but the weekend’s action put that to bed. The analysis appears to point at institutions and a change in their buying habits of stablecoins, though there are some indicators that it will be a short-lived dip. For example, the largest wealth manager in the US, Morgan Stanley, is allowing its 15,000 financial advisers to pitch spot Bitcoin ETFs, which should be a positive for the price of BTC. However, a former SEC official has called Morgan Stanley’s decision a “death wish.” Meanwhile, the defunct crypto exchange Celsius has filed a $3.5 billion lawsuit against stablecoin issuer Tether.Further reading:Bitcoin price drops below $59K as institutions stop buying stablecoinsMorgan Stanley’s Bitcoin ETF push a ‘death wish,’ says former SEC officialCelsius sues Tether, seeking $3.5B over Bitcoin collateral sell-offVenezuela blocks Binance, X amid presidential election disputeSo, grab yourself a coffee, and let’s get into it.Rise’n’Crypto is brought to you by Cointelegraph and is hosted and produced by Robert Baggs. You can follow Robert on Twitter and LinkedIn. Cointelegraph’s Twitter: @CointelegraphCointelegraph’s website: cointelegraph.comThe views, thoughts and opinions expressed in this podcast are its participants’ alone and do not necessarily reflect or represent the views and opinions of Cointelegraph. This podcast (and any related content) is for entertainment purposes only and does not constitute financial advice, nor should it be taken as such. Everyone must do their own research and make their own decisions. The podcast’s participants may or may not own any of the assets mentioned.