David Morgan, founder of the Morgan Report, predicts a silver shortage and predicts that in ten years, silver will be one of the finest Bitcoin investments. But one expert warns that if silver prices drop below $18, “we might see silver be utterly roasted.” This week also saw the prominent cryptocurrency exchange FTX US, along with four others, receive a cease and desist order from the Federal Deposit Insurance Corporation (FDIC) for activities related to cryptocurrencies. Read about all of this and more in this week’s edition of Bitcoin.com’s News Week in Review.
Morgan Report: Silver Could “Get Absolutely Smoked” If It Drops Below $18 Inventor Anticipates Supply Shortage
The value of silver against the dollar has dropped by more than 28% in the 165 days since March 8, 2022. The founder of The Morgan Report, David Morgan, predicts a shortage of silver even at these lower prices. Morgan predicts that in ten years, silver will be a highly lucrative investment option.
Among the five businesses that received a cease and desist letter from the FDIC was the cryptocurrency exchange FTX US. We never intended differently, and apologize if anyone misread it,” FTX CEO Sam Bankman-Fried said in regards to the company’s lack of FDIC insurance. To be clear, FTX US is not a member of the FDIC.
Two of Terra’s Classic Coins Experience Mysterious Price Increase, Driving USTC 42% Higher in 24 Hours.
The two ‘defeated’ Terra blockchain tokens, now known as terraclassicusd (USTC) and luna classic (LUNC), have actually enjoyed substantial price increases. While USTC was relatively constant against the dollar until Tuesday, it soared 42.2%, sending the price of LUNC skyward by 8%.
One of the largest Ethereum mining pools, Ethermine, has begun the merge countdown, signaling that it will no longer be participating in Ether PoW mining.
Ethermine, the largest ethereum mining pool, has stated it will stop engaging in proof-of-work (PoW) mining altogether. According to Ethermine, the platform will keep displaying a countdown on the miner dashboard until the timer reaches zero, after which point mining will cease.
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