Gold bug and economist Peter Schiff has warned that the seeming ease in inflation for the United States economy is nothing to get too excited about, as Shark Tank star billionaire Mark Cuban is facing a class action lawsuit for allegedly promoting a “massive Ponzi scheme.” In other news, JPMorgan CEO Jamie Dimon thinks “something worse” than a recession could be coming, and popular play-to-earn (P2E) blockchain game Axie Infinity hits $4B in sales and announces the removal of SLP rewards from classic mode. The Bitcoin.com News Week in Review.
Peter Schiff Warns US Faces a ‘Massive Financial Crisis,’ Economist Expects Much Larger Problems Than 2008 ‘When the Defaults Start’
The economist and gold bug Peter Schiff usually has a lot to say, and this past week Schiff explained during an interview that he believes the U.S. will face a financial crisis worse than 2008’s ‘Great Recession.’ Schiff explains that the U.S. has a lot more debt than it did back then, and insists America’s economic downturn “is going to be a much bigger crisis when the defaults start.”
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Billionaire Mark Cuban Sued for Allegedly Promoting a Massive Crypto ‘Ponzi Scheme’
Shark Tank star and the owner of the NBA team Dallas Mavericks, Mark Cuban, is facing a class action lawsuit for promoting Voyager Digital’s crypto products. The plaintiffs claim that Voyager was “a massive Ponzi scheme” and Cuban “duped millions of Americans into investing.”
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JPMorgan Boss Jamie Dimon Warns ‘Something Worse’ Than a Recession Could Be Coming
JPMorgan CEO Jamie Dimon has shared his predictions for the U.S. economy, including a chance of “something worse” than a recession. “There are storm clouds,” the executive said, citing interest rates, QT, oil, Ukraine, war, and China.
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Axie Infinity surpasses $4 billion in all-time sales, team removes SLP rewards from game mode
After recording more than $4 billion in all-time sales, Axie Infinity announced the game’s classic mode will no longer allow users to obtain smooth love potion (SLP), as SLP rewards have been added to the new Origin ranked gameplay mode. Axie Infinity also launched non-fungible token runes and charms through the market, which are available on the Ronin network.
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What are your thoughts on this week’s stories? Is inflation likely to ease in the U.S. soon or will it continue? We would love to hear from you in the comment section.
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