This week's crypto weekly brew delves into the ongoing Ripple and SEC battle, exploring the latest developments in this legal battle. We will also cover Reddit sunsetting their Moons token, and examine the complexities surrounding Genesis, Gemini, and their financial losses and more.

Ripple vs. SEC ongoing battles

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This week we start with Ripples (XRP) battle with the U.S. Securities and Exchange Commission (SEC). This protracted dispute has left both supporters and sceptics of cryptocurrency feeling somewhat fatigued. While some relief may be found in charges being dropped by the SEC the final resolution of this lawsuit remains uncertain. The constant back and forth between Ripple and SEC continues to test the patience of the crypto community as there are still enforcement actions to consider. This complicated legal situation has undoubtedly contributed to a sense of weariness within the crypto community.

Reddit Sunsetting Moons Tokens

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The recent selling of Moon tokens by Reddit moderators before the announcement of discontinuing their blockchain-based program has raised suspicions. Some people in the community are calling it a rug pull which's a term used when someone manipulates the system for personal gain in the crypto world. It appears that insiders within the community may have made profits from their Moon tokens. This situation highlights the sentiment among enthusiasts who believe that certain individuals take themselves seriously and are willing to profit from their positions.

New York Attorney General sues Gemini, Genesis, and Digital Currency Group for Fraud

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Last week, the New York Attorney General sued crypto firms Gemini, Genesis, and Digital Currency Group. These entities allegedly engaged in hiding a $1.1 billion loss. This incident serves as a reminder of the risks present in crypto markets, where even well-respected institutions can be vulnerable.

BlackRock’s ETF and Bitcoin Price Predictions

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Matrix Port suggests that the approval of a Bitcoin ETF could result in price surges in the Bitcoin price. However, there are some eyebrows raised regarding the methodology, behind this projection, which relies on assumptions about inflows into stablecoin Tether. Projections like these often walk a line between providing valuable insights and being speculative thoughts. Crypto markets have their logic driven by market sentiment, adoption trends and even an element of unpredictability rather than precise mathematical models.

What is evident is that the crypto markets have a knack, for defying logical expectations. What is clear is that successfully navigating the crypto markets requires being adaptable, having an understanding of where the money flows are being directed and being mindful not to become entangled in overly intricate models and valuations.

Thank you for reading and hope you have a good rest of the day!

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