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:

• Has JPMorgan Been Lying To You

• FTX Hacker Is On The Move

• The Federal Reserve Starts To Create A CBDC

• Altcoin Breakdown Of The Week

• Important Dates For The Week

• The Weekly Meme :)

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JPMorgan Is Lying To You

JPMorgan, one of the biggest asset managers and banks, may be hiding this from the public. I am here to unravel it so we can hopefully get an inside look.

JPMorgan CEO, Jamie Dimon, really dislikes Bitcoin and crypto as a whole. 5 years ago he stated, "Bitcoin is for murders, drug dealers, and North Korea." I hear you that was 5 years ago, however, 2 months ago he stated crypto is a "decentralized Ponzi scheme". Dimon sounds like a true bear to me, there is no way JPMorgan would touch crypto even with a 10-foot stick.

JPMorgan just registered a trademark for its own cryptocurrency wallet, so much for a bear. This crypto wallet will most likely be available for retail investors, not just institutions.

I have no idea what JPMorgan is planning but they must not want people to know that they are bullish on crypto.

FTX HACKER IS ON THE MOVE

The FTX hacker has been doing some weird things lately with his stolen funds. First off The number of hacks in crypto is insane.

Before we dive straight in let's do a quick recap. FTX was overleveraging their company and using their own coin as collateral, so when CZ exposed them, the company collapsed. SBF filed for bankruptcy, they got hacked, then SBF said to a reporter his philanthropy persona was just for PR.

This is what the FTX hacker has been doing with his newly attained fortune:

• He Transferred his crypto into a variety of coins but most of it is in Ethereum

• Split nearly $200 million in ETH into 12 wallets

He has not tried to withdraw any of his money yet and as of today has not sent any money threw tornado cash to try to run with it.

Some crypto experts say it may take many years for people to receive their crypto funds back.

THE FEDERAL RESERVE STARTS TO CREATE A CBDC

The NY Federal Reserve is launching a CBDC pilot program with massive banks and institutions.

A CBDC is a Central Bank Digital Currency and surprisingly enough quite a few countries are looking to adopt a digital currency. Currently, Canada, Australia, Brazil, and India have concrete plans to launch a digital currency.

Why should you care:

• Shows the government is looking into blockchain tech

• Could be implemented into our daily lives in the future

• Ripple technology is integrated with some of the banks that the NY Fed paired with which is pretty interesting since they are in an SEC lawsuit

This program is for 12 weeks and will test the interoperability of the digital money platform called the regulated liability network. The goal of this project is to improve financial settlements involving the central bank, commercial banks, and regulated non-banks.

ALTCOIN BREAKDOWN OF THE WEEK

Today we will be digging into Cypherium. Cypherium has been gaining a ton of hype so let's see if the hype is deserved.

What's Cypherium: Cypherium is a layer 1 blockchain protocol designed to offer financial inclusion for its users whilst delivering operational efficiencies for its enterprise and institutional partners. They have

Tokenomics: Cypherium has a $12.5 million market cap however they have a fully diluted market cap of $192 million meaning only 6.5% of the supply is in circulation. This is bad because 93.5% of tokens have to come into circulation meaning there's going to be a ton of inflation.

The Team:

• Upon Looking they don't have anyone truly special (great successes in the past)

Market size: Cypherium has a huge market size as it can help create CBDCs for countries and assist with the creation of stablecoins and digital assets for crypto projects.

Already accomplished: They are a plugin for FedNow (Federal Reserve project coming in summer 2023) and are blockchain advisors for the European Central Bank, Netherlands Central Bank, People's Bank of China, and the Federal Reserve.

Final thoughts: They have terrible tokenomics which will cause a ton of inflation, a meh team, however, they have already partnered with many huge countries which does give me hope that they would survive the bear market. Only time can tell.

As always this is just a breakdown and should not be taken as financial advice.

IMPORTANT DATES FOR THE WEEK

• 11/23/2022 - FED Minutes

• 11/30/2022 - 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.