Good Morning. Welcome back to The Seek for another wild Wednesday, where we will be going into the nitty gritty of this crazy crypto market.

Here is what to expect today:

• Is Putin behind Bitcoin?

• U.S. government banned Tornado Cash

• The Weekly Meme :)

IS PUTIN REALLY BEHIND BITCOIN

Vladamir Putin has been alleged to be the founder of Bitcoin. Yes, the Russian president. He is tapped into many things and has faultily taken over Russian companies, so could he create Bitcoin.

Dan Pena thinks so. But who is Dan Pena?

• American Enterpeneur

• Successful Business Coach

• Big time investor

• $450 million net worth

At a conference in 2020, Pena vigorously yelled, "he knew who was behind Bitcoin", then stated, Putin. In Previous years he spoke out about this saying his friend told him about this conspiracy, which he now embraced.

Yes, his success gives him a ton of credibility but let's look at the facts. Well, there is not much. The claims are supported by Dan Pena's beliefs. Not enough evidence has been proven to have any correlation with Putin.

How do we really know if Putin is behind it or not? Well, we don't. Although the thought of Putin being the founder of Bitcoin gives me the chills. Yeah, the guy down there.

THE U.S. GOVERNMENT BANNED TORNADO CASH, WHAT'S NEXT

The U.S. surprised us all when they announced they have added Tornado Cash to their sanctions. Tornado Cash is a cryptocurrency mixer, which helps hide the identity of the users who are sending and receiving crypto.

Between July 31 and August 6th there was roughly 26,000 Eth sent into Tornado Cash and 25,000 Eth sent out according to data Nansen. Today this equates to about $48,933,820. My o my that's a lot of money in one week.

These astonishing numbers aren't all great. We can assume some transactions going through the mixer are money made through illegal activities. So the U.S. government took action freezing approximately $440 million of assets.

The U.S. is cracking down on crypto, not just anonymous applications. They have been fighting crypto projects as they believe some are securities, calling crypto coins "Security Tokens", and now taking down crypto projects. Is the U.S. stealing privacy from the people or helping?

WEEKLY MEME 😉

That's it for today folks. Stay tuned for next Wednesday! If you want to ask questions or reach out, respond to this email :)

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.