Silver Supply Crunch Predictions, FDIC Issues Cease and Desist Order to FTX US, and More — Bitcoin.com News Week in Review

Silver Supply Crunch Predictions, FDIC Issues Cease and Desist Order to FTX US, and More — Bitcoin.com News Week in Review

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.

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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.”

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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.

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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

Since 2015, Bitcoin.com has been a global leader in introducing newcomers to crypto. Featuring accessible educational materials, timely and objective news, and intuitive self-custodial products, we make it easy for anyone to buy, spend, trade, invest, earn, and stay up-to-date on cryptocurrency and the future of finance. Schiff Says US Inflation Decline "Only Temporary," Mark Cuban Sued, JPMorgan CEO on Recession, Axie Infinity Update — Bitcoin.com News Week in Review THE WEEKLY | Aug 21, 2022 Binance CEO"s Warning About Wazirx Wallets, Nigerian EFCC on Naira Depreciation, O"Leary Buys the Dip — Bitcoin.com News Week in Review THE WEEKLY | Aug 14, 2022

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