F2Pool Co-founder Wang Chun Mentions "Silver Thursday" Warning: Curious About Market Reaction If CZ Restricts Buying

Odaily 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 prohibited new purchases of silver, only allowing liquidation and selling. He expressed curiosity about how those spreading FUD sentiment in the market would react if CZ were to execute a similar operation.

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 to manipulate the silver market, triggering a sharp drop in silver prices. The New York Commodity Exchange introduced "Silver Rule No. 7" to address the brothers' hoarding behavior. This new regulation was specifically designed to target financial leverage, significantly restricting the practice of purchasing commodities using margin. Subsequently, silver prices fell by over 50% in just four days. Since the Hunt brothers relied heavily on borrowing to fund their silver purchases, they were unable to repay their debts at this point, causing market panic.