F2Pool Co-founder Wang Chun mentions the warning of "Silver Thursday": If CZ restricts buying, curious about the market reaction

Odaily Planet Daily News: F2Pool co-founder Wang Chun posted on the X platform stating that during the “Silver Thursday” in 1980, COMEX implemented a series of regulatory rules that effectively banned new silver purchases, allowing only liquidation and selling. Curious to see how the market would react if CZ were to implement similar measures and those spreading FUD emotions.

It is reported that Silver Thursday was a major event in the silver commodity market on March 27, 1980. The Hunt brothers from Texas, USA, failed in their attempt to manipulate the silver market, which triggered a sharp drop in silver prices. The New York Mercantile Exchange introduced “Silver Rule No. 7” to counter the brothers’ hoarding behavior. This new regulation was specifically designed to target financial leverage, significantly restricting the practice of buying commodities on margin. As a result, silver prices fell over 50% within just four days. Since the Hunt brothers financed their silver purchases through大量借贷, they were unable to repay their debts at this point, leading to market panic.