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. You can find all this information and much more in our 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
In the last 165-day period, or March 8-2022, silver has fallen more than 28% against its dollar. David Morgan, founder of The Morgan Report believes that silver will see an increase in demand despite the low prices. 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 & Desist Orders for 5 Companies, Including FTX USA Exchange
Federal Deposit Insurance Corporation has issued a cease-and-desist letter to five businesses, which includes crypto exchange FTXUS. 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. The LUNC is up 8% and USTC, once stable coin, has jumped 42.2% against the dollar.
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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.
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