GM. This is The Seek, the wine to your cheese in the digital currency world, always a perfect match and always making things more enjoyable.

Here's what's on the menu for today:

• The Massive Crypto Money Launders

• Binance Made An Oopsie

• Over $1 Billion Inflows into XRP

• Important Dates For The Week

• The Weekly Meme :)

THE MASSIVE CRYPTO MONEY LAUNDERS

Looks like Bitzlato, a crypto exchange, had a real "crime wave" on its hands, turning over a whopping $1 billion euros worth of assets that were linked to criminal activity 😬

Europol, the European Union's law enforcement agency, uncovered this shady business. Europol states the trading platform was facilitating the laundering of large amounts of criminal proceeds. It looks like they got caught red-handed.

Binance also may have jumped on this criminal bandwagon of Bitzlato's illegal activities by moving $346 million of assets from Bitzlato after it was seized by the authorities. We are not 100% sure as it is unclear if Binance knew that the assets were linked to criminal activity, but they are now under investigation.

It looks like Bitzlao and Binance both have some dirty laundry to air out and will have to face the consequences of their actions now.

BINANCE MADE AN OOPSIE

Binance may be in a pickle after realizing it made a mistake of keeping its users' precious crypto-gold in the same spot as their collateral for loans.

This is raising concerns among users, as the collateral wallet is not considered to be as secure as a traditional cold storage wallet.

So far Binance has issued a statement acknowledging the mistake and assuring its users that steps have been taken to rectify the situation. They also went on to say they move their customers' assets into a more secure location and that all assets are safe and accounted for 😃

Binance has been scaring me lately

OVER $1 BILLION INFLOWS INTO XRP

The cryptocurrency XRP had over a billion dollars flowing into its market cap today. It's like a magic trick where XRP was able to make its market cap disappear at one point and then reappear 3 months later.

The rally was most likely due to XRP's CEO, Brad Garlinghouse, expressing optimism that a resolution of their SEC case would come to an end in the first half of 2023 🚀

Despite the CEO's optimism, it is truly surprising XRP went on a huge run considering the asset is facing uncertainty regarding the outcome of the Ripple and the SEC case.

Do you think XRP will win the lawsuit?

IMPORTANT DATES FOR THE WEEK

• 2/1/2023 - Federal Funds Rate

• 2/1/2023 - 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.