Silver Supply Crunch Predictions, FDIC Issues Cease And Desist Order To FTX US, And More — Bitcoin.com News Week Recap – Bitcoin Weekly News

David Morgan, founder of Morgan Report, predicts that there will be a shortage of silver in 10 years, and he also predicts that purchasing silver will be one of the most profitable investments of the decade. However, according to the assessment of one industry expert, if the price of the precious metal drops below $18, it is “quite likely that we may see silver get utterly burnt.” In other news this week, the Federal Deposit Insurance Corporation (FDIC) has issued a crypto-related cease and desist order to several cryptocurrency exchanges, one of which being the popular FTX US, along with four others. The most recent edition of Bitcoin.com’s News Week in Review covers all of this and more.

According to an analyst quoted in the Morgan Report, if the price of silver falls below $18, the precious metal might “get absolutely smoked.” The Founder Anticipates There Will Be a Supply Crunch

Silver’s value relative to the dollar has decreased by more than 28% over the course of the past 165 days, or from March 8, 2022. In spite of the recent decline in prices, David Morgan, who is also the founder of The Morgan Report, is of the opinion that there will soon be a shortage of silver. Morgan anticipates that in the next ten years, silver will be one of the most profitable investments of the decade.

Five companies, including FTX US Exchange, have received cease and desist orders from the FDIC in connection with cryptocurrencies.

The Federal Deposit Insurance Corporation (FDIC) has issued a “stop and desist” notice to a total of five different businesses, one of which being the FTX US cryptocurrency exchange. FTX’s Chief Executive Officer, Sam Bankman-Fried, provided an explanation on the company’s lack of FDIC insurance, noting that “We never meant differently, and apologize if anyone misinterpreted it… “Just so there is no confusion, FTX US is not FDIC insured.”

The value of Terra’s two classic coins has mysteriously increased, and the USTC has climbed 42 percent higher in the past day.

It is interesting to note that the two Terra blockchain tokens that were supposedly ‘defeated’ have witnessed large gains. These tokens are now known as terraclassicusd (USTC) and luna classic (LUNC). In recent days, LUNC has seen a price increase of 8%, while the once-steady USTC coin has seen a price increase of 42.2% higher against the US dollar on Tuesday.

Ethermine, the largest Ethereum mining pool, has begun the merge countdown as it prepares to abandon Ether PoW mining.

Mining pool Ethermine, the largest in the world, has stated it will stop participating in proof-of-work (PoW) ethereum mining. Ethermine claims that the platform would keep users mining ether until the countdown reaches zero, which will be displayed on the miner dashboard. Bitcoin.com has been in the forefront of educating the public about cryptocurrency since its launch in 2015. We make it simple for everyone to buy, spend, trade, invest, earn, and keep up-to-date on cryptocurrency and the future of finance by providing easily available instructional resources, timely and unbiased news, and intuitive self-custodial solutions.

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