This article was originally published in First Mover, CoinDesk’s daily newsletter that puts the latest crypto market moves into context. Subscribe today to receive it every day in your email.

The Latest Prices

Top Stories

The cryptocurrency is listed on SushiSwap, a href=”https://link.coindesk.com/click/32112721.27870/aHR0cDovL2dhdGUuaW8v/5f9774fb6365176ab6625f9aB844c94b7″>Gate.io/a> and MEXC. The cryptocurrency can be found on SushiSwap Gate.io, MEXC and SushiSwap. Moons are ERC-20 Tokens that users receive as rewards for posting or commenting on the r/CryptoCurrency Subreddit. These coins can be traded, tipped or used for various purposes in the community. Reddit Vault, an Ethereum-based wallet for tokens, is also available. Bricks (BRICK), a token distributed to reward contributions on the r/Fortnite Subreddit has surged by 300% in just two days.

The report reminded investors of Coinbase (COIN)’s significant regulatory challenges. Although a U.S. District Court ruled last week that Ripple XRP is not a securities in and of itself but it can be classified as a security if used in certain transactions. The securitized COIN Earn product, through which COIN provides staking rewards for retail customers, is particularly susceptible to being classified as a securities in this context, according to analysts led by Mark Palmer.

Bankrupt crypto-lender Celsius, its creditors, and its Series B round investors have reached an agreement to distribute $25,000,000 from the proceeds of GK8. $24 million will be allocated to legal expenses while $1 million will be divided amongst group. Galaxy Digital purchased the self-custody GK8 platform as part of Celsius bankruptcy proceedings. While the details of the deal were not revealed, Galaxy’s Michael Wursthorn told CoinDesk in an earlier interview that the price of the GK8 sale was substantially less than the $115,000,000 Celsius paid for it. In November 2021, the bankrupt crypto lender completed a $750 Million Series B funding round. The round was led by Westcap, a growth equity firm, and a Quebec pension fund. It was oversubscribed. This increased the amount raised from $400 million up to $750 millions.

Chart of the Day

  • The chart displays changes in XRP’s liquidity. This is measured by a collection buy and sell offers that are within 1% of either the mid-price, or the average price of the ask and offer prices.
  • Since the start of the year, the depth has remained at approximately 25 million XRP.
  • In a Friday report, CCData stated that “if this liquidity were to experience any severe drops it would likely indicate a risk of keeping inventory on the books if the SEC won, causing negative pricing action and a possible swathe delisting on exchanges.” The liquidity, CCData added, was a good indication of perceived regulatory risks of market-making for XRP pairs.
  • Liquidity is the ability of a market to absorb large orders to buy or sell at stable prices.
  • Source: CCData


– Omkar Godbole

Trending Posts

Stephen Alpher edited the book.