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:

• Texas, The New Home Of Bitcoin

• Putin Is Bullish On Crypto

• The Crypto Winter

• Altcoin Breakdown Of The Week

• Important Dates For The Week

• The Weekly Meme :)

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TEXAS, THE NEW HOME OF BITCOIN

Texas governor Greg Abbott surprised everyone coming out as a Bitcoin enthusiast, stating that Texas "wants to be the centerpiece" of the value Bitcoin adds to the world 🤯

While he was speaking to the Texas Blockchain Council Abbott encouraged BTC entities to come to Texas and those who do will be awarded no regulatory friction.

The exact quote:

"We are promoting it, we are advancing it. But I would say we are providing the platform for those who are involved in blockchain, for those who are involved in Bitcoin, to make sure they are going to have a location they can come to."

He then emphasized how Texas will beat all other pro-crypto states stating:

"Understand this, when Texas engages in legislation, we don't want to be over-regulatory, we're kind of anti-regulation. But we want to provide an infrastructure to make sure blockchain and Bitcoin will be able to succeed."

This has brought and will continue to bring new blockchain business to Texas as previously crypto-related companies have had difficulties with regulation. A week ago the New York governor banned all new Bitcoin mining companies which means Texas will be the house of all those new businesses, maybe. 👀

PUTIN IS BULLISH ON CRYPTO

Vladimir Putin, the president of Russia, proposed the idea of building a new blockchain-based global payment system for international transactions 🙈

Over the weekend Putin was discussing solutions to the restrictions on settlements by other countries and businesses. If you don't know businesses enforced restrictions onto Russia due to the Ukraine and Russia war.

Putin stated his solution:

"Based on the technologies of digital currencies and distributed ledgers, it is possible to create a new system for international payments, and much more convenient, but at the same time completely safe for participants and completely independent of banks and interference from third countries."

Some crypto projects have already been doing this including Ripple. Ripple has been working on a blockchain-based global payment system, however, some people question if it is truly decentralized which would be a huge issue for Putin.

Crypto Winter

December is a time of joy with holidays around the corner and the excitement of all the gifts but what about crypto? 🥶

Let's look at the data:

• In December 2020 BTC went up 50%

• In December 2021 BTC went down 50%

Well, the data says we will either we are going to the moon or we will be going farther down the toilet. This is a little scary so let's play out some of the scenarios:

Pros:

• Federal Reserve drops the rate hike to 50 basis point

• People are becoming more stringent on spending their money which leads us to deflation

• XRP wins against SEC

Cons:

• More crypto companies collapse

• XRP loses against SEC

Who knows what will happen but I presume it will be very volatile in the next few months.

ALTCOIN BREAKDOWN OF THE WEEK

Today we will be digging into Polygon. Polygon has been in the news lately so let's see if the hype is real.

What's Polygon: Polygon is a layer 2 cryptocurrency which effectively transforms Ethereum into a full-fledged multi-chain system (basically an internet of blockchains). This multi-chain system has advantages compared to its competition having Ethereum's security and scalability.

Tokenomics: Polygon has 87% of its coin within circulation meaning there will be little inflation to occur. This is a positive as it won't dilute investors' investments in the project.

The Team:

• Sandeep Nailwal - Was a former CEO at ScopeWeaver (never heard of them)

• Jaynti Kannani - The CEO was a senior software engineer

• Anurag Arjun - Experience in product management

• Mihailo Bjelic - Looks like a tech enthusiast

Market size: Polygon has a huge market size as it can provide fast, secure, and scalable solutions to any company entering the web3 space.

Already accomplished: They have been backed by Binance, Coinbase, and Mark Cuban Companies. Polygon has partnered with tons of companies some of the bug ones include Draftkings, Stripe, Reddit, Nothing, Walt Disney, Adidas, NFL, Starbucks, Adobe, and Meta.

Final thoughts: They have great tokenomics which gives them 5 points. The team is good just no prior hierarchy positions within a company so I will give 3 points. The market size is huge so I'll allocate 5 points. They also have so many partnerships so I'll give accomplishments a 5 pointer. Total 18 points.

The point scale: Tokenomics 5 points | Team 5 Points | Market Size 5 Points | Accomplishments 5 Points = 20 Points

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

IMPORTANT DATES FOR THE WEEK

• 11/30/2022 - Fed Chair Jerome Powell Speaks - 12:30pm

• 12/7/2022 - The Seek Newsletter - 10:00 am

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.