Good Morning. Welcome to The Seek, where we make sure you don't miss the next crypto bull run. We have a good one today, so strap up and get ready for this ride 🚀.

Here is what to expect today: 

• The U.S. Federal Reserve is replacing banking with crypto

• North Korea stole $620 million in crypto assets

• Dogecoin Creator vs. Elon Musk

• Important dates for the week

• The weekly meme :)

THE FEDERAL RESERVE IS REPLACING BANKING WITH CRYPTO

The Federal Reserve is partnering with Cypherium: the blockchain advisor for the European Central Bank, Netherlands Central Bank, People's Bank of China, and the Federal Reserve. Wow, that's a mouth full.

This may be bigger than some may see. They'll be creating a project called FedNow. A real-time payment software, which will eliminate the need for intermediaries between transactions. No more 2-5 business days for transactions to clear 🤗.

FedNow is being built on the Cypherium blockchain and is set to launch in the Summer of 2023. Be ready.

NORTH KOREA STOLE $620 MILLION IN CRYPTO ASSETS

The FBI confirmed that North Korea was behind the Axie Infinity hack. Axie Infinity was the top crypto game in 2021 and its price reflected that, but once they were hacked everything started to go downhill.

The hacking groups Lazarus Group and APT38 to be exact. Here comes the kicker, the North Korean government has ties with these units. It's rumored they are allocating these funds to their nuclear program. I don't like the sound of this 🙈

Isn't crypto unhackable? I was thinking the same thing. The hacking organization created a fake LinkedIn company and reached out to Axie Infinity employees. One took the bait, a senior engineer. They sent a generously compensated job offer to him via a PDF. Once opened, the hacking organization was able to take over his system which allowed them to access the validation nodes. They then proceeded to withdraw $625 million in ETH and USDC (Now worth ~$150 million). 

DOGECOIN CREATOR VS. ELON MUSK 🥊

Dogecoin's co-founder, Jackson Palmer, is outraged that Elon Musk and Reddit group SatoshiBets sent the meme coin "to the moon". The fight of the century?

He stated, "It all kind of annoyed me because it was this thing that had my name tied to it. I don't think people realize it, but I wish when something happened with Dogecoin and Elon Musk and my Dogecoin co-founder Billy that I didn't get dragged back into it."

On the other hand, Billy Marcus, the other Dogecoin co-founder, is great friends with Elon Musk. Musk has come out and said he has worked with Marcus to further develop the project in the past and fully supports Dogecoin.

Do you think Jackson Palmer and Elon Musk should enter the ring? comment with your answer.

IMPORTANT DATES FOR THE WEEK

• 9/13/2022 - CPI data for August came in higher than expected at 8.3%

• 9/16/2022 - Ethereum Merge Will be Completed

• 9/21/2022 - Federal Funds Rate

• 9/21/2022 - FOMC Statement

THE WEEKLY MEME 

That's it for today folks. Stay tuned till 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.