Prepare for Recession: Musk and Goldman Sachs’ Blankfein Weigh In; Galaxy Digital’s CEO Talks on Terra Collapse — Bitcoin.com News Week in Review

This week, each Goldman Sachs’ Lloyd Blankfein and Tesla boss Elon Musk weighed in on the difficulty of an impending recession within the U.S., issuing sobering estimations. In the wake of Terra’s epic implosion, the subject is all of the extra important, however LUNA-tattooed Galaxy Digital CEO Mike Novogratz nonetheless thinks the “crypto revolution is right here to remain.” 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’s now the agency’s senior chairman, has warned about an impending recession within the U.S. Blankfein says that corporations and customers ought to put together, and careworn that it’s a “very, very excessive danger.”

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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. economic system might be in a recession and it might be “robust going” for 12 to 18 months. He added: “The trustworthy purpose for inflation is that the federal government printed a zillion extra 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 lot of individuals puzzled the place the Luna Foundation Guard’s (LFG) bitcoin went, because the funds have been supposed for use to defend UST’s $1 parity. On Friday final week, the blockchain intelligence and analytics agency, Elliptic, revealed a weblog publish that summarizes the place the bitcoin was despatched, in keeping with the agency’s community surveillance instruments.

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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 revealed a publish concerning the current Terra blockchain fallout. Novogratz and his agency Galaxy Digital have been huge believers within the Terra challenge, and the investor even acquired a LUNA-centric tattoo on his arm. Despite the current occasions and losses the crypto economic system felt this previous week, Novogratz careworn that he nonetheless firmly believes the “crypto revolution is right here to remain.”

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Do you suppose a recession is on the way in which? How will crypto fare by way of all of it, in that case? Let us know your ideas within the feedback part under.