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Musk and Goldman Sachs’ Blankfein Weigh In; Galaxy Digital’s CEO Talks on Terra Collapse — Bitcoin.com News Week in Review – The Weekly Bitcoin News

May 22, 2022
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Musk and Goldman Sachs’ Blankfein Weigh In; Galaxy Digital’s CEO Talks on Terra Collapse — Bitcoin.com News Week in Review – The Weekly Bitcoin News
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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.

Prepare for Recession: Musk and Goldman Sachs' Blankfein Weigh In; Galaxy Digital's CEO Talks on Terra Collapse — 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'

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

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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Billionaire Investor and Galaxy Digital CEO Mike Novogratz Addresses Terra LUNA and UST Fallout

Billionaire Investor and Galaxy Digital CEO Mike Novogratz Addresses the Terra LUNA and UST Fallout

On May 18, the billionaire investor and crypto proponent Mike Novogratz published a post about the recent Terra blockchain fallout. Novogratz and his firm Galaxy Digital were big believers in the Terra project, and the investor even got a LUNA-centric tattoo 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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Tags in this story
Binance, Blankfein, collapse, crypto revolution, Crypto Tattoos, do kwon, economics, Elon Musk, Galaxy Digital, Gemini, Goldman Sachs, inflation, Lloyd Blankfein, LUNA, Mike Novogratz, Onchain analysis, Recession, Tattoo, Terra, U.S. recession, UST, Week in Review

Do you think a recession is on the way? How will crypto fare through it all, if so? Let us know your thoughts in the comments section below.

Bitcoin.com

Bitcoin.com is your premier source for everything Bitcoin-related. We can help you buy bitcoins and choose a bitcoin wallet. You can also read the latest news, or engage with the community on our Bitcoin Forum. Please keep in mind that this is a commercial website that lists wallets, exchanges and other Bitcoin-related companies.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

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