Morgan Report founder David Morgan foresees a supply crunch for silver, and says that in ten years’ time, it will be one of the best investments of the decade. One analyst, however, says if the precious metal falls below $18, it’s “very possible that we could see silver get absolutely smoked.” In other news this week, the Federal Deposit Insurance Corporation (FDIC) has issued a crypto-related cease and desist order to popular cryptocurrency exchange FTX US, and four others. All this and more, in the latest Bitcoin.com News Week in Review.
Analyst Says if Silver Dips Below $18, Precious Metal Could ‘Get Absolutely Smoked’ — Morgan Report Founder Expects a Supply Crunch
Silver has lost more than 28% against the dollar during the last 165 days or since March 8, 2022. Despite the lower prices, David Morgan, the founder of The Morgan Report, believes silver is expected to see a crunch in supply. In ten years’ time, Morgan thinks silver will be one of the best investments of the decade.
Read More
FDIC Issues Crypto-Related Cease and Desist Orders to 5 Companies Including FTX US Exchange
The Federal Deposit Insurance Corporation (FDIC) has sent a cease and desist letter to five companies, including crypto exchange FTX US. CEO Sam Bankman-Fried explained that FTX does not have FDIC insurance, stating: “We never meant otherwise, and apologize if anyone misinterpreted it … to be clear FTX US isn’t FDIC insured.”
Read More
Terra’s 2 Classic Coins Mysteriously Spike in Value, USTC Climbs 42% Higher in 24 Hours
Interestingly, the two so-called ‘defeated’ Terra blockchain tokens, now called terraclassicusd (USTC) and luna classic (LUNC), have seen significant gains. LUNC has climbed 8% higher recently and the once-stable coin USTC has jumped 42.2% higher against the U.S. dollar on Tuesday.
Read More
World’s Largest Ethereum Mining Pool to Drop Ether PoW Mining, Ethermine Starts Merge Countdown
The world’s largest ethereum mining pool, Ethermine, has announced the organization plans to drop proof-of-work (PoW) ethereum mining entirely. Ethermine says that the platform’s miner dashboard will display a countdown and users can continue to mine ether until the countdown reaches zero.
Read More
Tags in this story
Cease and Desist, cease and desist order, David Morgan, Ethereum, FDIC, FTX.US, LUNA, LUNC, mining, mining pool, PoW, Precious Metals, Samuel Bankman-Fried, silver, Silver Price, Supply Crunch, Terra, USTC
What are your thoughts on this week’s hottest stories from Bitcoin.com News? Be sure to let us know in the comments section below.
Bitcoin.com
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
