GM, welcome back to The Seek. If you haven't seen the news today then you're in for a treat 👇 

Here is what to expect today: 

• Will Crypto Be Saved By Visa?

• Binance bought Voyager Digital. What's Next?

• Trump NFT Release

• Important Dates For The Week

• The Weekly Meme :)

WILL CRYPTO BE SAVED BY VISA?

We may finally have good news coming to the crypto space. Visa, the digital payment company, is incorporating crypto 😲

Visa has proposed a system, called "account abstraction" that uses smart contracts to enable automated programmable payments on the blockchain. Basically, there will be a smart contract that will allow for the creation of a self-custodial wallet that can make automatic recurring payments without requiring the user's active participation.

For example, a merchant will be able to set up a smart contract that will allow customers to pay automatically from their self-custody wallets 😏

Visa proposed deploying the system on the Ethereum layer 2 network Starknet, however, the company has not revealed any plans to use the system as part of its offered services.

Why is this so significant?

Well, it allows crypto to become mass adopted as people will be able to pay out of their custodial accounts. Think of your custodial account as a bank account and the visa card you will use will take money from your custodial account which holds your crypto and buy any product or service you desire. 

This differs from an exchange card because the new technology Visa may be implementing would allow people to pay with their cold storage wallet instead of just the normal exchange custodial account.

BINANCE BOUGHT VOYAGER DIGITAL. WHAT'S NEXT?

Binance.US, the American branch of the world's largest cryptocurrency exchange, has reportedly agreed to purchase the assets of troubled cryptocurrency lender Voyager Digital.

The agreed purchase price was $1.02 billion, however, the deal involves Binance.US paying Voyager only $20 million, with the remainder coming from the current market value of Voyager's assets.

This will allow Binance to obtain Voyager's 3.5 million customer accounts.

The scary part of this 😨:

This better not be an FTX part 2...

TRUMP NFT RELEASE

Wow, Donald J. Trump released an NFT this week and it was quite a hot commodity! 

His digital trading cards reportedly sold out within hours of their release and the collections trading volume has reached a whopping 900 ETH, or around $1.08 million. Trump to the moooon! 🚀

Some of the rarest cards known as "one-of-ones," are selling for as much as 6 ETH or about $7,200 each.

With the NFT you can get some perks like playing at one of Donald Trump's gold courses or meeting Mr. Trump.

The Inside Scoop: 

Donald J Trump said a few years back that he despised crypto but now all of a sudden he is introducing his NFT collection, which seems odd 🤔

Here is my theory, Trump has lost a bit of money after being sued and losing for tax fraud and now he has to start campaigning for his presidential election. Therefore, Trump needed money and he decided to go with the NFT route.

One thing many people don't realize is that Trump actually didn't create the NFT project but another company did and paid trump for licensing. This company may also have been exposed for putting Trump's face on stock images. Many people are upset, would you be?

IMPORTANT DATES FOR THE WEEK

• 12/23/2022 - Core PCE Price Index

• 12/28/2022 - 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.