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 Bitcoin News

On Aug 21, 2022

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. This is 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 Classic 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. The team also introduced non-fungible token (NFT) runes and charms that can be minted on the Ronin network through the marketplace.

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Tags in this story

axie infinity, blockchain games, economic collapse, inflation, Jamie Dimon, jpmorgan, Mark Cuban lawsuit, Peter Schiff, play-to-earn (P2E), Ponzi Scheme, Recession, U.S. economy, Voyager Digital

What are your thoughts on this week’s stories? Will inflation in the U.S. and globally ease soon, or is the worst yet to come? Be sure to let us know in the comments section below.

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