Good Morning. Welcome to The Seek, where we make sure you don't miss the next crypto bull run. This week has been crazy, just read what has happened 👇

Here is what to expect today:

• The United States is creating a stable coin?

• South Korea is hunting down Do Kwon

• Ethereum Merge is destroying portfolios

• Important dates for the week

• The weekly meme :)

THE UNITED STATES IS CREATING A STABLECOIN?

The White House just released a framework for the development of digital assets (U.S. stablecoin). Don't worry I read the framework so you don't have to 😉

Why would the U.S. create stablecoin:

• To control/regulate crypto taxes

• To establish the digital world currency

• Make banking system faster/cheaper/more available

The White House calls on the SEC, CFTC, CFPB, and FTC to act upon this movement. "Encouraging these agencies to issue guidance and rules to address current and emergent risks in the digital asset ecosystem."

However, they discussed the downsides to stablecoins using TerraUSD as the main example. Stating if not implemented correctly it can turn out like USDT, which nearly erased $600 billion of wealth.

Overall the "framework" sounded bullish on crypto. Do you think the U.S. can pull this off? Reply with your answer.

SOUTH KOREA IS HUNTING DOWN DO KWON

Oh my, Korea must love being in the news lately 🙄. South Korea issued a 'Red Notice' on Do Kwon.

I had no idea what a Red Notice was, so if you are like me here it is; Red Notice is a request to worldwide law enforcement to find and arrest a person/persons. Doesn't sound too good for Do Kwon.

If you don't know who Do Kwon is he was the founder of TerraUSD which has dropped 99% in price, losing mostly all of its value. Apparently, South Korea didn't like this and believed there is something fishy going on.

ETHEREUM MERGE IS DESTROYING PORTFOLIOS

The Ethereum Merge just occurred, however, Ethereum along with the whole crypto market is tanking 😨. The classic, buy the rumor, sell the news.

WHAT HAPPENED? It comes down to two variables fear and liquidations. First, we got a bad CPI report, coming in higher than expected, and then Eth whales dumping on retail investors. It went a little something like this 👇

Fear → Selling pressure → Prices drop → Liquidations → Prices fall more → More liquidations. Just a big circle.

IMPORTANT DATES FOR THE WEEK

• 9/21/2022 - Federal Funds Rate (Hopefully not a 100 BPS rate hike 🙏)

• 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.