This week, both Goldman Sachs’ Lloyd Blankfein and Tesla boss Elon Musk weighed in on the issue of an impending recession in the U.S., issuing sobering estimations. In the wake of Terra’s epic implosion, the topic is all the more critical, but LUNA-tattooed Galaxy Digital CEO Mike Novogratz still thinks the “crypto revolution is here to stay.” This is the Bitcoin.com News Week in Review.
Goldman Sachs’ Blankfein Advises Companies and Consumers to Prepare for US Recession — Says It’s a ‘Very, Very High Risk’
Lloyd Blankfein, a former Goldman Sachs CEO who is now the firm’s senior chairman, has warned about an impending recession in the U.S. Blankfein says that companies and consumers should prepare, and stressed that it’s a “very, very high risk.”
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Elon Musk: US Economy Is Probably in Recession That Could Last 18 Months — Warns It ‘Will Get Worse’
Tesla and Spacex CEO Elon Musk says that the U.S. economy is probably in a recession and it could be “tough going” for 12 to 18 months. He added: “The honest reason for inflation is that the government printed a zillion more money than it had.”
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Onchain Analysis Report Says Terra’s Bitcoin Reserves Were Sent to Binance and Gemini
After the collapse of Terra’s once-stable coin terrausd (UST), a number of people wondered where the Luna Foundation Guard’s (LFG) bitcoin went, as the funds were supposed to be used to defend UST’s $1 parity. On Friday last week, the blockchain intelligence and analytics firm, Elliptic, published a blog post that summarizes where the bitcoin was sent, according to the firm’s network surveillance tools.
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Mike Novogratz (Billionaire Investor, Galaxy Digital CEO) Addresses Terra LUNA & UST Fallout
Mike Novogratz (billionaire investor, crypto advocate) published a blog post on the Terra blockchain crisis. Novogratz, his company Galaxy Digital and a large number of investors believed in Terra. Novogratz even had a LUNA-centric tattoo placed on his arm. Despite the recent events and losses the crypto economy felt this past week, Novogratz stressed that he still firmly believes the “crypto revolution is here to stay.”
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Are you worried about a possible recession? What will happen to crypto if it does? Please share your views with us in the comment section below.
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