GM, welcome to The Seek. The news today is finger-licking good, so allow me to give you a taste 👇 

Here is what to expect: 

• Winklevoss Calls Out Genesis CEO

• Bitcoin's 14th Birthday

• World Economic Forum Opinion's On Crypto

• Important Dates For The Week

• The Weekly Meme :)

WINKLEVOSS CALLS OUT GENESIS CEO

It seems that Digital Currency Group (DCG) and its subsidiary crypto broker, Genesis, are in a bit of a sticky situation.  The lending arm of Genesis has halted customer withdrawals since November, and it reportedly owes users of the Gemini Earn product a whopping $900 million 👀

This massive downfall got two founders fighting, let me take you on what is happening.

The Fight 🥊

Winklevoss POV: One of the founders of Gemini, Cameron Winklevoss, has accused DCG's CEO, Barry Silbert, of using "bad faith stall tactics" in attempts to resolve the issue. Winklevoss claims that Silbert has refused to meet with Gemini leadership or agree to a timeline for returning funds to users.

Silbert POV: Like and reasonable man would, Silbert denies these allegations and claims that DCG recently sent a proposal to both Genesis and Gemini. 

Winklevoss Final Punch: Winklevoss has given Silbert a deadline, it's getting real. Silbert has until January 8th to publicly commit to resolving the crisis or else.

BITCOIN'S 14TH BIRTHDAY 🎉

Woo woo! Bitcoin turned 14 years old yesterday. Que the old people saying, "Wow, He's growing up so fast."

It all started back in 2009 with the creation of the Genesis Block by nonother than Satoshi Nakamoto. This block indicated Bitcoin was being born.

Let's reflect on all that BVitcoin has accomplished in the past 14 years:

• It's now a legal tender in a few countries

• It still remains in the #1 spot among all cryptocurrencies

• Adoption of Bitcoin was at it's ATH

Happy B-day, Bitcoin! Here's to 14 years of decentralization.

WORLD ECONOMIC FORUM'S OPINION ON CRYPTO GOING INTO 2023

The World Economic Forum has formed a statement of where cryptocurrencies will be going in the future. I did the reading so you don't have to 🤓

According to the World Economic Forum (WEF), the technology behind cryptocurrencies and digital assets will continue to be an important part of the modern economy. They emphasized the wide-ranging applications of cryptography and blockchain technologies but particularly in the financial sector.

They also pointed out that big banks and financial firms are increasingly adopting Web3 and crypto, citing JPMorgan as an example of a company with a friendly attitude toward the crypto industry 😉

They go on to state that the crypto industry carries risks, similar to any sector involving money. Despite this, they argued that the transparent nature of crypto makes it difficult for bad actors to operate undetected.

Now for the most important question, where will crypto be in the near future? WEF predicted a difficult year for the cry[pto market in 2022, with significant value evaporating and user trust in the industry being eroded by high-profile failures like the collapse of FTX. However, they suggested that the market crash could lead to a shakeout that leaves more durable companies, business models, and use cases standing.

IMPORTANT DATES FOR THE WEEK

• 1/04/2023 - FOMC Meeting Minutes

• 1/11/2023 - 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.