Goldman Sachs announces a new crypto trading team in an internal memo snagarajan@businessinsider.com (Shalini Nagarajan)
Goldman Sachs has informed employees of a new cryptocurrency trading desk, the bank confirmed.
It is the first time the US bank has formally acknowledged involvement in crypto-trading.
The crypto team will report to Goldman partner, Rajesh Venkataramani.
Goldman Sachs formally announced the launch of its newly-formed cryptocurrency trading desk to markets employees, according to an internal memo obtained by Insider.
The team has successfully executed two types of bitcoin-linked trades - bitcoin non-deliverable futures and CME BTC futures, the bank said.
Members will report to Goldman partner Rajesh Venkataramani. It will function as part of the bank s global currencies and emerging markets trading team within a division led by the global head of digital assets, Mathew McDermott.
Goldman Sachs Announces New Crypto Trading Team to Serve Wealth Management Clients
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Goldman Sachs launches limited BTC derivatives trading desk After years of anticipation, Goldman is finally offering institutional partners trading services. 9447 Total views News
One of the largest investment banks in the world just launched a cryptocurrency trading desk though executives made sure to specify they would only be trading derivatives, and will not have actual digital assets on the books.
A CNBC report this morning revealed a internal Goldman Sachs memo announcing the launch of a cryptocurrency trading desk. The desk will be part of Goldman’s Global Currencies and Emerging Markets division, and overseen by Digital Assets head Mathew McDermott.
Goldman Sachs announced this week the formation of a new crypto dedicated team
Maybe it is not the best time to invest in Bitcoin(BTC)
The cryptocurrency market is advancing this Friday, Bitcoin is trading very close to $58000, and for now, everything indicates that the price could advance above this level very soon.
Fundamental analysis: Institutional demand continues to grow significantly
Bitcoin continues to enjoy the support of both developers and user communities while the fundamentals of this cryptocurrency are constantly improving. Bitcoin has stabilized above $50000 support, the daily volume of this crypto remains high, and Bitcoin continues to grow following an influx of new capital into the market.
by Tyler Durden
Friday, May 07, 2021 - 09:47 AM
2018 was not a good year for bitcoin, and for cryptos in general: after hitting an all time high of (only) $20,000 in December of 2017, much of the remainder of 2018 was spent with the crypto bubble deflating, with early crypto investors first casually than fervently taking profits and dragging the price of cryptos ever lower. The punchline came in September, when as we reported at the time Goldman - clearly disappointed with the lack of upside momentum - suspended its fledgling crypto trading desk plans.
. sending bitcoin tumbling back below $7000. In retrospect anyone who bought then can now retire.
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