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Here's what's on the menu for today:

• Tesla Losses $140 Million Bc Of Crypto

• Chess X Crypto

• Important Dates For The Week

• The Weekly Meme :)

TESLA LOSSES BIG IN CRYPTO

Tesla recently reported a whopping $140 million loss due to their investment in Bitcoin to the SEC. Ouch! That's enough to make Elon Musk want to say "to the moon and back" a few times 😱

Just two years ago people were raving about how Tesla locked in more than $100 million in profits from its crypto investment. They must have jinxed it.

Tesla has officially cashed out their $936 million in Bitcoin, trimming their BTC holdings by 75%. Tesla's response was because, in recent months, Tesla's profitability was affected by "Bitcoin impairment."

Before Tesla revealed this news BTC plummeted from$24k --> $23k. Ouch!

CHESS X CRYPTO

The International Chess Federation is making a big move into the world of blockchain, teaming up with Avalance to integrate Web3 technology ♟️

Their goal is to use this up-and-coming technology to bring benefits such as increased transparency, security, and accessibility to the federation's operations and services. This is huge as it shows that companies are taking on blockchain tech as most view crypto and the blockchain as speculative pieces of tech.

Hopefully, this turns out to be a rook-solid plan for the future of chess.

IMPORTANT DATES FOR THE WEEK

• Today - Federal Funds Rate

• Today - FOMC Meeting

• 2/2/2023- Unemployment Rate

• 2/8/2023 - 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.