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Goldman Sachs CEO Sees 'Big Evolution' in Bitcoin and Crypto Regulations

Goldman Sachs CEO Sees Big Evolution in Bitcoin and Crypto Regulations
On 4/7/21 at 1:37 PM EDT
Goldman Sachs CEO David Solomon foresees a big evolution in how the U.S. government regulates Bitcoin and other cryptocurrencies.
He said the New York investment bank s clients want to participate in the Bitcoin market, but current regulations are unclear.
David Solomon, CEO, Goldman Sachs
Paul Morigi / Getty Images for Fortune
We continue to think about digital currency and the digitization of money in a very proactive way, Solomon told CNBC. And in that context, we are engaged with our clients and we look at all this though through the centricity of what do our clients need? ....

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Bitcoin Loses 17% in Value Thursday, Rebounds Early Friday

Bitcoin Loses 17% in Value Thursday, Rebounds Early Friday
On 1/22/21 at 10:38 AM EST
Bitcoin fell as much as 17% Thursday, but regained its footing in early trading Friday.
The world s largest crypto-currency by market cap fell below $30,000 after peaking at $41,940 earlier this month, underscoring its volatility. CoinDesk calculated that the plunge erased about $100 billion in market value.
Bitcoin recently changed hands at $32,353, down about 22.86% from its recent high. Bitcoin had gained about 400% in 2020 and ended the year just over $29,000.
The crypto-currency appears to be a favorite of day traders and long-term investors hedging against what they fear will be devaluation of the dollar, pound and euro due to quantitative easing by the U.S. Federal Reserve and other central banks as part of the effort to stabilize economies pounded by the COVID-19 pandemic. ....

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