Goldman Sachs Is Not Starting A Crypto Trading Desk, But They Did Invest In One
31 Januar 2018 - 11:10PM
ADVFN Crypto NewsWire
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January 21, 2018 -- ADVFN Crypto NewsWire
-- Leo Blankfein,
CEO of Goldman Sachs, refuted the Bloomberg
report that Goldman Sachs will be opening a crypto trading
desk in an interview with CNBC, although the New York bank
has owned a stake in a crypto trading desk since
2015.
In 2015, Goldman Sachs’ principal investment strategy
group, which invests specifically in technology companies,
participated in a $50 mln funding round with
Bitcoin-startup Circle Internet Financial.
The deal closed on April 29, 2015, when Bitcoin
(BTC) was trading at around $225.59, according
to CoinMarketCap. By press time, BTC was trading around
$10,040, about a 4400 percent increase from when Goldman Sachs
invested in the Bitcoin-startup.
Circle is made up of Circle Pay, which is a fiat money
sending services with a social messaging component, but
also Circle Trade, which is a liquidity provider of
cryptocurrencies. The company plans to open Circle
Invest in 2018, a product designed for retail customers to
more easily invest in crypto markets.
Goldman Sachs only recently released a report that referred
to digital currencies as real money, in reference specifically
to its use in developing economies. Previously, in November 2017,
Blankfein had said that while he believes that Bitcoin will
probably not work out in the long term, he’s open to the idea
of BTC trading if it ever becomes more established as a
currency.
Author: Molly Jane Zuckerman
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