Blankfein, Musk, and Goldman Sachs Weigh In — Galaxy Digital CEO Speaks on the Terra Collapse
This week, both Lloyd Blankfein of Goldman Sachs and Tesla CEO Elon Musk turned their focus to the question of an imminent U.S. recession, issuing sobering assessments. In the wake of Terra's epic implosion, the topic has taken on even greater urgency — yet Galaxy Digital CEO Mike Novogratz, tattooed with the LUNA logo, still believes that “the crypto revolution is here to stay.” This is Bitcoin.com News Week in Review.
Goldman Sachs' Blankfein Advises Businesses and Consumers to Brace for a U.S. Recession — Calls It a “Very, Very High Risk”
Lloyd Blankfein, former CEO of Goldman Sachs and now the firm's Senior Chairman, has warned of an imminent U.S. recession.
Blankfein said companies and consumers should prepare themselves,
emphasizing that it is a “very, very high risk.”
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Elon Musk: The U.S. Economy Is Probably Already in a Recession That Could Last 18 Months — Warns It Will “Get Worse”
Elon Musk, CEO of Tesla and SpaceX, says
that the U.S. economy is probably already in a recession and that it could be “rough” for 12 to 18 months.
He added: “The honest reason for inflation is that the government printed a lot more money than it should have.”
Onchain Analysis Report Says Terra’s Bitcoin Reserves Were Sent to Binance and Gemini
Following the collapse of the once-stable TerraUSD (UST) stablecoin, many people wondered where the Bitcoin belonging to the Luna Foundation Guard (LFG) had gone,
as those funds were supposed to be used to defend UST's $1 peg.
Last Friday, blockchain intelligence and analytics firm Elliptic published
a blog post summarizing where the Bitcoin was sent, according to the company's network monitoring tools.
Mike Novogratz (Billionaire Investor, CEO of Galaxy Digital) Addresses the Terra LUNA and UST Fallout
Mike Novogratz (billionaire investor, crypto advocate) published a blog post about the Terra blockchain crisis. Novogratz and his firm Galaxy Digital, along with a large number of investors, believed in Terra.
Novogratz even had a LUNA tattoo placed on his arm. Despite the recent events and losses felt across the crypto economy last week, Novogratz affirmed that he still firmly believes “the crypto revolution is here to stay.”
Are you concerned about a potential recession? What will happen to cryptocurrencies if it does occur? Please share your thoughts with us in the comments section below.
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