Tag: GoldmanSachs

Goldman Sachs announced it became the first major US bank to have made an over-the-counter (OTC) cryptocurrency transaction. The bank bought an OTC Bitcoin non-deliverable option (NDO) from Galaxy Digital. The bank’s first OTC crypto transaction could spur other Wall Street giants to follow suit. An OTC Bitcoin NDO sounds complicated, but it basically means…

Bitcoin will take market share away from gold in 2022 as digital assets become more widely adopted, Zach Pandl, the co-head of global foreign exchange, rates, and emerging market strategy for Goldman Sachs, said in a research note to clients. “We think that Bitcoin’s market share will most likely rise over time as a byproduct…

Cryptocurrencies are replacing gold as means of protection against inflation, has recognized Goldman Sachs’s Head of Energy Research, Damian Courvalin, noting the flight of investments to the crypto market from the precious metal. Answering on whether he was observing that investors have used assets beyond gold, such as Bitcoin or other cryptocurrencies, to hedge against…

According to a new CoinDesk report, Citigroup is actively recruiting traders to begin working with Bitcoin futures on the Chicago Mercantile Exchange and is awaiting regulatory approval. CoinDesk, citing two sources, including one within the bank, reported that Citi is planning to trade Bitcoin futures contracts on the Chicago Mercantile Exchange (CME). The bank reportedly…

Wall Street investment bank Goldman Sachs has filed on July 26 an application with the United States Securities & Exchange Commission (SEC) for new decentralized finance (DeFi) and blockchain-based exchange-traded fund (ETF). According to the filing, the proposed fund, called the “Goldman Sachs Innovate DeFi and Blockchain Equity ETF,” seeks to provide investment results that…

Venture Capital funds have already invested more than $ 17 billion in the cryptocurrency market in the first half of 2021, marking a new annual record since 2018. According to data provider PitchBook, that’s around the total amount raised in all previous years combined. Much of the funds out of crypto deals in 2021 came…