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Goldman Sachs Set to Set Up Cryptocurrency Trading Desk

Written by:
C Costigan
Published on:
Dec/22/2017

Appearing on Bloomberg just a few weeks ago, Goldman Sachs CEO Lloyd Blankfein said his firm was set to dive into the crypto-currency space.

Now comes confirmation that Goldman will be setting up a crypto-currency desk come June.

From Bloomberg News:

The move positions Goldman Sachs to become the first large Wall Street firm to make markets in cryptocurrencies, whose wild price swings and surging values have captured the public’s imagination but given pause to established institutions. Already, the bank is among just a few mainstream firms clearing a new breed of bitcoin futures offered by Cboe Global Markets Inc. and CME Group Inc. Citigroup Inc. and Bank of America Corp., for example, have been taking a wait-and-see approach. Goldman Sachs is now assembling a team in New York, one of the people said.

“In response to client interest in digital currencies, we are exploring how best to serve them,” Michael DuVally, a spokesman, said in a statement.

A decision is yet to be made where to set up the deak.

Here’s More…

- Aaron Goldstein, Gambling911.com

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