GM Seedphrase Nation 👋 From Trump dropping NFT's, SBF facing 115 years in prison, and CZ calling Kevin O'Leary a capper, we've got you covered with this weeks news.

Fridays: Weekly Recap & Community Questions!

We know web3 isn't easy and we're committed to changing that.

That's why we've made Friday's open for questions.

Ask us anything, especially if it's something you're afraid to ask. We promise, we don't judge. We're here to strengthen and grow the Seedphrase Nation (that's you!)

We'll make Twitter threads to answer you and notify you to go check out our response.

Is Trump the bottom signal?

Could this be the bottom?

Maybe. But one thing we do know is that Trump must be down horrendous, because he just released an NFT collection.

Watch the official announcement here:

Yes, that is actually real. Love him or hate him, you have to admit he knows how to entertain.He's raised almost $4.5 million after he sold out his 45,000 digital trading card collection. Minting the collection gave purchasers a chance to enter into sweepstakes and included various prizes like access to his golf courses, gala dinner, and one-on-one meetings.People who bought at the retail price of $99 are now in the profit zone and selling at $250 (.19ETH).

Kevin O'Leary Defends Crypto to Congress

The FTX hearings have begun, and Mr. Wonderful was invited to be on a panel of speakers.

His advice to Congress:- Regulate, regulate, regulate. Create clear regulation for the crypto space so it can thrive.- Crypto is the future- if the US doesn't start to act, it will lose in the global race.- Our financial systems are antiquated, crypto fixes a lot of that.

Despite being a crypto stan, crypto Twitter is hating on him for this:

While Binance did play a role in the fall of FTX- it was by no means the reason FTX went down.

FTX went down because of downright FRAUD.

Here's our favorite clip from the 2hr long hearing:

To watch the entire hearing, click this.

Sponsor of the Day: Binance

Yes, we are plugging Binance after Kevin O'Leary threw shade. That's how we roll.

Sign up for Binance.US to buy and sell crypto with low fees. You’ll get $10 when you use our our invite: https://accounts.binance.us/en/register?ref=54023791

CZ, Binance CEO, Fires Back Shots

Watch CZ call Kevin "Kalvin" and also a liar.

Low key, he also called Kalvin a bad investor for investing millions in FTX without looking at the FTX cap table...

The War Against Apple Rages On

If you don't know, Apple has been the topic of much debate due to its 30% app store cut.

Elon Musk has taken the lead in criticizing Apple:

The Apple 30% app store cut is a HUGE problem for crypto and NFTs. Apple is trying to claim a 30% royalty on in app NFT purchases and other digital assets.

Leave it to the EU to put Apple in its place.

Because of EU anti-monopoly laws, Apple is preparing to allow other app stores on their devices.

Magic Eden Launches Polygon NFT Launchpad

Just look down this list. + the names on the picture. I think End of Q4 2022 and Q1 2023 is going to be all about perps protocols in DeFi Land. You'll likely see people pivoting into this role (Cross chain perps exchanges) or others building infra to help new perp exchanges.

A smart move to say the least. Magic Eden was a Solana only NFT marketplace, but with Solana down horrendous, they're starting to test new ventures.

Historical data: Polygon may be the new preferred chain for NFTs. In October, Reddit NFTs which are built on Polygon, absolutely exploded after release. So much so that they came second to Bored Apes in trading volume.

Good and Bad Economic News

We'll start with the good news:

• BTC hit 18K this week, and has been in an uptrend since Novemeber

• CPI data for November is out, showing only a 0.1% rise in the price of consumer products, putting us at 7.1% inflation for the last 12 months

• Mortgage rates have dropped the 5th week in a row. At least our housing market is tolerating the inflation...

• SOL is up $14.15 (so at least it hasn't died yet)

Ok that's about all we've got.

Here's the Bad News:

• Binance advises staff the next few months will be painful. CZ told his colleagues the bear will definitely get worse before it gets better.

• Stocks have dipped significantly as inflation has not cooled enough

• ONLY 14 STOCKS in the S&P 500 were in the green.

• Shaq says he doesn't believe in crypto... "I'm just a paid spokesperson."

THE GRAND FINALE: SBF FINALLY GOES TO JAIL.

SBF has been arrested by Bahamian authroities.

The prison he's held in has been reported in the past for "harsh" conditions and "degrading treatment." Karma has a funny way of poking its head in- doesn't it?

SBF was in court in the Bahamas yesterday and is facing over 100 years in prison if convicted. We wonder if they have Twitter Spaces in jail.

Okay but what about the US? Don't we want him to go through our courts? Yes, probably. We just have to patiently wait until the US requests extradition. And by the way, the extradition process could take years.

Mr. Joe Rogan Enters the Chat:

Joe Rogan had his own take on the entire FTX/SBF scandal:

Did you like this email? Did it make you giggle? Did it make you cry? Refer us to just ONE friend to share the goodness.

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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research