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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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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.

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

  1. You guys are really out of your fucking mind. Around 2 years ago in march 2020, Bitcoin's price was around 5000$ and now its around 29000-30,000$

    Thats literally x6 in two fucking years. The people who were against bitcoin back then should be underneath our fucking feet begging for their regret. They should be wishing every single day of their night for not getting into crypto in 2020.

    So how did this subreddit turn this into favoring bears when clearly bitcoin dominated throughout these two years?

    This is literally insanity, its blowing my mind how people have forgotten that bitcoin was priced at 5000$ and have JUMPED ALL THE WAY TO 69,000$ throughout both 2020-2021, and are fucking COMPLAINING WHEN IT DROPS TO MATCH NOT X14 INCREASE FROM 2020 BUT X6.

    HOW MUCH INTEREST RATES HAVE YOU GOTTEN FROM YOUR BANKS? 0.1%?

    If bitcoin goes 20,000$, it would still be pretty mind blowing with respect to 2020 being 5000$, 400% INCREASE is still what the fuck

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