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:

• Sam Bankman Fired Has Been Released

• NFT Projects Moving Away From Solana

• Important Dates For The Week

• The Weekly Meme :)

SAM BANKMAN FRIED RELEASED FROM JAIL

Sam Bankman Fried got a lucky break as the judge gave him bail, the catch, it was set at $250 million. And he paid it.

But How, he said he had $100k two weeks ago:

• You only need to pay a down payment of 10%, making it $25 million

• Parents put their house as collateral for the bond

This make Sam Bankman Fried’s parents liable, meaning they would have to pay all $250 million if Sam tries to make a run for it.

What is Sam being charged with:

• Federal prosecutors in the Southern District of New York unsealed an eight-count indictment against Bankman-Fried, alleging fraud and conspiracy.

• The commodity Futures Trading Commission filed fraud harvest against him, seeking restitution for investors and customers in civil court.

• The Securities and Exchange Commission lobbed it’s own civil charges at Bankman Fried for allegedly “orchestrating a scheme to defraud equity investors.”There is way more so to break let’s just say Sam is going to need a good lawyer.

CRYPTO BILLIONAIRE’S TAKE MASSIVE LOSSES

The wealthiest in crypto are taking big hits to their pockets this year. It’s not everyday you see someone lose billions of dollars but luckily for us Forbes served it all on a gold platter.

What a hit. Just some billionaires losing billions of dollars.

I was surprised Sam Bankman Fried was not on top, maybe he could finally be 1st at something but CZ his rival took that 😢

IMPORTANT DATES FOR THE WEEK

1/4/2022 - The Seek Newsletter

THE WEEKLY MEME