One of the largest investment banks in the world, Goldman Sachs has formally started the cryptocurrency trading era on Wall Street
According to a memo obtained exclusively by CNBC, Goldman Sachs officially relaunched its crypto desk after it successfully traded two types of bitcoin-linked derivatives. Moreover, Rajesh Venkataramani, the Goldman Sachs partner who wrote the memo, stated that a crypto team had been established. The desk is part of the firm’s global currencies and emerging markets division.
The announcement came after the program was previously restarted this March. According to Reuters, Goldman Sachs was considering projects involving blockchain technology and central bank digital currencies. The crypto desk was initially started in 2018, but as bitcoin’s price was falling, so was investors’ interest. But, since then, the market infrastructure for cryptocurrencies has developed, and financial institutions started offering products and services, such as CME Group Inc, Intercontinental Exchange Inc, and Fidelity. Even mainstream companies, such as Tesla, announced that it bought $1.5 billion worth of bitcoin, and it revealed that it is accepting bitcoin payments.
Through its desk, Goldman Sachs offers bitcoin futures and non-deliverable forwards to wager on the price of bitcoin. The contracts are settled in cash, as Goldman is not working with the “physical bitcoin.”
Sources: cnbc.com, reuters.com
لا يجب على المستخدمين/القراء الاعتماد على المعلومات المقدمة هنا وحدها ويجب على المتلقي إجراء تحليلاته/أبحاثه الخاصة عن طريق قراءة البحث الأساسي الفعلي.تتسم المعلومات الواردة هنا بالعمومية ولا تأخذ في الاعتبار الظروف الشخصية لكل فرد، أو خبراته الاستثمارية أو وضعه المالي الحالي.
وبناء عليه، لن تتحمل Key Way Investments Ltd المسئولية عن أي خسائر يتكبدها المتداولين بسبب استخدام محتوى المعلومات المقدمة هنا. لا يعتبر الأداء السابق مؤشراً موثوقاً على النتائج المستقبلية.