GM, welcome to The Seek. If you haven't seen the news today then you're in for a treat 👇

Here is what to expect today:

• Did Sam Bankman Fried Dodge Jail?

• Ripple Said They Won The Lawsuit

• Nexo Leaves The U.S.

• AI States Opinion On Crypto

• Important Dates For The Week

• The Weekly Meme :)

DID SAM BANKMAN FRIED DODGE JAIL?

Maxime Waters, California's 43rd District in Congress, called out SBF wanting him to attend the upcoming U.S. House committee's hearing to discuss the FTX collapse 😲

Maxime Water's Tweet:

This was SBF's statement about the matter:

"Once I have finished learning and reviewing what happened, I would feel like it was my duty to appear before the committee and explain. I'm not sure that will happen by the 13th. But when it does, I will testify."

Now to the naked eye, it doesn't seem so suspicious, however, many people are beginning to speculate SBF is trying to avoid going to the U.S. so he won't get detained. Their reasoning, it has been 25 days since FTX filed for bankruptcy yet he still doesn't know what has happened to his own company 🧐

Do you think SBF is avoiding jail time? Reply with your answer.

RIPPLE SAID THEY WON THE LAWSUIT

Ripple Labs, the creator of the XRP token, came out with some positive words on Sunday regarding the Ripple vs. SEC lawsuit. Could this be the end? 👀

Ripple's lawyers stated the SEC failed to show that any sale of XRP was an investment contract under federal securities laws. Their reasoning was that they couldn't prove how XRP "carried its burden as to each of the three Howey elements."

The Howey Test is a test created by the US Supreme Court to determine whether or not a financial transaction qualifies as an "investment contract." If a transaction is determined to be an investment contract, it is considered to be a type of security and is subject to securities regulation.

Here are the four main criteria that make up the Howey Test 👇

1. The transaction involves an investment of money

2. The investment is made with the expectation of profit

3. The profit is derived from the efforts of a third party

4. The investment is of a passive nature, with the investor having little control over the enterprise

Ripple lawyers are stating the SEC failed to show the court how XRP fit into this test. Now, this is just the opinion of the Ripple lawyers and the court ruling has not been made.

NEXO LEAVES THE U.S.

Nexo has announced on Twitter that they will no longer be serving their products and services to the United States. Their reasoning: lack of regulation 🤯

Nexo states they have been talking to U.S. regulators for 18 months in an attempt to determine how to comply with U.S. financial laws and this still has not resulted in an agreement between the company and U.S. officials.

Nexo has stopped serving customers from New York and Vermont and has suspended registrations for its Earn interest product in the US. In addition, customers in eight other states will lose access to the Earn Intrest product on December 6th.

AI STATES OPINION ON CRYPTO

I asked OpenAI's GPT3 Chatbot its opinion on Crypto.

Here is what he had to say:

IMPORTANT DATES FOR THE WEEK

• 12/9/2022 - PPI m/m

• 12/13/2022 - CPI m/m

• 12/14/2022 - The Seek Newsletter

THE WEEKLY MEME

That wraps it up, stay tuned for next Wednesday. If you haven't seen last weeks news then you need to check this out 👇

DISCLAIMER: The Seek does not provide any financial advice. This newsletter is strictly for educational purposes and should not be used to make any financial actions. Please be careful and do your own research.