Wall Street giant Goldman Sachs, once lukewarm on crypto, has surprised the financial world with its newfound commitment to Bitcoin after disclosing an impressive $710 million in BTC holdings through several exchange-traded funds. The substantial position reflects a significant increase in the banking firm’s exposure to cryptocurrency, which could be key to its continued adoption...Read More
Goldman Sachs CEO David Solomon said that bitcoin could “very well” serve as a store of value similar to gold. Solomon’s comments come at a time of growing debate over bitcoin’s potential as a reserve asset and store of value. Bitcoin’s Potential as a Store of Value In a July 30 CNBC interview, Solomon said...Read More
Two of America’s largest banks are urging crypto investors to remain cautious around the upcoming Bitcoin halving, which analysts believe may not play out much like prior cycles. In a Wednesday report, JPMorgan predicted that Bitcoin’s price will not rise following the event, and is more likely to resume declines that began earlier this month....Read More
Bitwise CIO Matt Hougan explained what makes Bitcoin valuable on Wednesday after a recently interviewed Goldman Sachs executive struggled to find the answer. Sharmin Mossavar-Rahmani – chief investment officer of the bank’s Wealth Management unit – said she still isn’t a “believer in crypto” even after the launch of Bitcoin spot ETFs in January. Why...Read More
As per a Bloomberg report, institutional clients of Goldman Sachs’ Asia Pacific division are displaying revitalized interest in Bitcoin, Ether, and other crypto assets. This trend indicates a notable evolution in the investment landscape for traditional financial institutions. According to Max Minton, the head of digital assets at Goldman Asia Pacific, a significant number of...Read More
Goldman Sachs (GS.N) is gearing up for a significant increase in the trading of blockchain-based assets within the next one to two years, signaling a major evolution in digital asset markets. According to a Reuters report, Mathew McDermott, the bank’s global head of digital assets, stated that the Wall Street giant is not only preparing...Read More
Jan Hatzius and David Mericle – economists at the banking giant Goldman Sachs – predicted that the US Federal Reserve will start lowering interest rates from the second quarter of 2024. Many experts have previously suggested that such a pivot could boost investor interest in risk-on assets, including stocks, commodities, and cryptocurrencies. Still Uncertain About...Read More
Goldman Sachs published a research note on Friday covering blockchain technology and the recent demise of the crypto exchange FTX. The investment banking giant believes regulation is “needed at the point of trust” within the centralized elements of the blockchain industry – rather than on the blockchain itself – to prevent similar instances of widespread...Read More
The American multinational investment bank – Goldman Sachs – intends to spend tens of millions of dollars to acquire or invest in cryptocurrency organizations. Goldman’s head of digital assets – Matthew McDermott – thinks the involvement of trustworthy regulated players in the crypto industry could improve its current condition. Goldman Remains a Crypto Proponent In...Read More
John Haar – a former member of Goldman Sachs’ Asset Management division – published an article detailing what he perceived were commonly held views about Bitcoin, sound money, and economics on Wall Street. He listed multiple reasons for which members of traditional finance either object to or fail to appreciate Bitcoin’s potential as global money. ...Read More
The multinational investment giant – Goldman Sachs – reportedly recommended selling Coinbase (COIN) stocks is a better option than holding or buying them at the moment. As a result, shares of the exchange plunged by more than 9% as the market opened to under $60. From ‘Neutral’ to ‘Sell’ The ongoing cryptocurrency bear market has...Read More
If the situation with Celsius worsens any further and the company has to file for bankruptcy, Goldman wants to be ready to buy up crypto assets at a discount. As such, the Wall Street behemoth aims to raise $2 billion, reports say. CryptoPotato reported the drama that unfolded with Celsius earlier this month when the...Read More
Banking giant Goldman Sachs began trading a derivative asset tied to Ether on Monday. The asset is intended to provide investors with indirect exposure to Ether – the second-largest cryptocurrency by market cap. As reported by Bloomberg, the counterparty of the trade was Marex Financial – a London-based financial services firm. The move comes on...Read More
In its latest survey of the insurance sector, Goldman Sachs has, for the first time, included questions related to cryptocurrencies. The replies of top global asset managers show that they’re slowly recognizing crypto assets as investments. The adoption of digital assets by insurance sector investors has been a keenly watched space. In December 2020, MassMutual...Read More
Goldman Sachs is reportedly in talks with the US arm of crypto exchange FTX for potential integration of the latter’s derivative operations. According to Barron’s report, the multinational investment giant aims to integrate derivatives trading services with FTX US, which has been now pushing into stocks, to enable retail investors to trade a more diverse...Read More
The crypto market shed trillions of dollars in value over the past couple of weeks, inducing fears it could hurt the larger economy. But Goldman Sachs economists are not worried about any possible impacts on US households. Goldman Sachs Weighs In Goldman Sachs economists led by Jan Hatzius estimated in a note said that US...Read More
Two of the world’s major investment banks, Goldman Sachs and Barclays, recently participated in a $70 million Series A funding round for Elwood Technologies, the crypto trading platform founded by British hedge fund billionaire Alan Howard. Goldman Sachs and Barclays Invest in Elwood According to a Sunday report by the Financial Times, this funding round...Read More
After years of bashing the cryptocurrency industry, the Wall Street behemoth has started numerous such initiatives in the past several months. The latest, reported by Bloomberg, reveals the bank’s intentions to roll out OTC ETH options trading due to enhanced client demand. Citing Andrei Kazantsev, Goldman’s head of crypto trading, the coverage informed that the...Read More
The newly appointed global head of digital assets for Goldman Sachs’ private wealth management division, Mary Catherine Rich, announced that the bank will soon offer investments in Bitcoin (BTC) and other cryptocurrencies to clients within its private wealth management group. In an exclusive interview for CNBC, Mary Rich said that Goldman Sachs was working hard...Read More
The rumors were true: Goldman Sachs has reportedly conducted its first OTC crypto option trade with investment firm Galaxy Digital. This marks the first of any such trade among all major US banks, and a big milestone for the crypto derivatives market. Bitcoin Options Trades Earlier this month, unidentified sources claimed that Goldman was contemplating...Read More
Multinational investment bank Goldman Sachs is now exploring the provision of bilateral crypto options, deepening its involvement with crypto derivatives trading for institutions. They will purportedly allow holders such as Bitcoin miners and hedge funds to either hedge their risks, or boost yields with customizable offerings. The Crypto Options Market The bank’s plans were reported...Read More
According to analysts at the multinational investment bank Goldman Sachs, the growing mainstream acceptance might not result in higher prices for digital assets. Instead, the institution opined that the USD value of bitcoin and the altcoins correlate with inflation and other economic events. Bitcoin May Not Go Up Due to Adoption Many experts predict that...Read More
Adam Dell – former Head of Product at Marcus by Goldman Sachs – launched a new wealth-building platform focused on both cryptocurrencies and stocks. The project is called Domain Money and aims to grant investors opportunities such as more control and access to their assets, real-time intelligence, and live customer agents. The Birth of Domain...Read More
The banking giant filed an application with the U.S. Securities and Exchange Commission (SEC) on July 26 for a DeFi ETF that would offer exposure to public companies. According to the filing, the proposed fund called the “Goldman Sachs Innovate DeFi and Blockchain Equity ETF”, seeks to provide investment results that closely correspond to the...Read More
The US multinational investment bank Goldman Sachs continues with its 180-turns on the cryptocurrency industry. After its recent interest that included filing for a Bitcoin ETF and exploring crypto as an asset class, the institutions’ latest report said virtual currencies are not a “viable investment.” Crypto Is Not a Viable Investment: Goldman It’s safe to...Read More
Jeff Currie – the Global Head of Commodities Research at Goldman Sachs – shared his thoughts on Bitcoin being a gold replacement. According to him, digital assets are substitutes for copper. From Gold to Copper In a recent CNBC interview, Jeff Currie warned that cryptocurrencies are risky and people should not consider them as a...Read More
After reportedly leading Coinbase’s public offering earlier this year, the giant US investment bank Goldman Sachs predicted a bright future for the exchange’s shares. In a recent report, Goldman has put up a “buy” rating for COIN and predicted a 35% increase by the end of the year. One of the most notable developments coming...Read More
Banks and other financial institutions have never been close friends of Bitcoin and other cryptocurrencies. Goldman Sachs is a good example, albeit it seems that the bank has some other problems to deal with as well. This week, the people at Goldman Sachs had an interesting discussion on Bitcoin, inflation, and so forth. Bitcoin is...Read More
Financial institutions such as Goldman Sachs have always condemned Bitcoin and other crypto assets. In 2020 and beyond, they are looking at the new form of money from a completely different perspective. Rumor has it that Goldman Sachs is paying very close attention to Bitcoin. Goldman Sachs Pays Attention to Bitcoin Not to blast it...Read More
The financial repercussions of the coronavirus pandemic is very difficult to predict. Some people expect a major insolvency cascade to take place, eventually forcing people in the direction of Bitcoin and other crypto assets. Various banks and governments are scrambling to keep their economies afloat. Coronavirus may Force People to Embrace Bitcoin That is easier...Read More
