Yo, welcome to The Seek. Now if you are seeking crypto news to cringe memes you're at the right place. This week was a doozy, I'm not kidding check it out 👇 

Here is what to expect today: 

• Hackers Steal $570 Million In BNB

• Visa x FTX

• Fidelity Ethereum ETF

• Important Dates For The Week

• The Weekly Meme :)

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HACKERS STEAL $570 MILLION IN BNB

Binance, the largest crypto exchange by trading volume, has been hacked totaling ≈$570 million in BNB. BNB is Binance's own cryptocurrency which traders can use to pay transactions and trading fees.

On Thursday Binance's CEO announced a cross-chain bridge linking with its BNB Chain was targeted. His Exact Words 👇

Luckily this will not affect anyone's funds. However, investors still didn't like this as BNB took a nose dive after the news was released.

VISA X FTX

VISA and FTX are partnering to release a debit card.  A big bet considering that we are in a bear market.

They are planning to offer debit cards in 40 countries with a focus on Latin America, Asia, and Europe. If you are wondering, what about the U.S.?!? Don't worry there is one already released.

These Debit cards hook up to the User's FTX investing account, allowing people to spend their crypto without moving it to a Bank.

Although this doesn't have a huge effect on most, my favorite part of a Crypto Debit card is for the people living in countries that have highly inflated currencies. This allows these people to hedge against inflation through crypto while allowing them to easily spend that money with their crypto debit card. 

FIDELITY ETHEREUM ETF

Fidelity, The Huge Asset Manager, released an Ethereum Index Fund. Crypto Adoption is getting real.

Yet, it's not for everybody:

• You have to be accredited

• Minimum investment of $50,000

This will be the second Crypto Fund Fidelity will have established, the other being tied to Bitcoin.

So far the fund has raised ≈$5 million since Sept. 26. Some speculate this fund was established for institutions to become involved in Ethereum.

IMPORTANT DATES FOR THE WEEK

• 10/13/2022 - U.S. CPI Report

• 10/19/2022 - 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.