Goldman Sachs Considers Crypto Trades Beyond Futures, Affirms Solomon
According to David Solomon, Chief Operating Officer of Goldman Sachs Group Inc., which is one of the biggest banks in the United States, the company is exploring crypto trades beyond the future contracts that it is currently dealing with.
The COO stated in a recent interview that they are going very cautiously but are listening to their clients and trying to help them as they are exploring this new market. According to the businessman, Goldman Sachs have must evolve and adapt because the business is changing. David Solomon is also the president of the company and a clear frontrunner to be the next CEO of Goldman Sachs.
Profitable Market Or Menace To The Financial System?
Many discuss whether the cryptocurrency market, which is already worth $284 billion USD and keeps increasing its value, might be a gold mine or a menace to the financial system, but Goldman Sachs seems to be inclined to consider it profitable.
The company already deals with publicly-traded derivatives tied to Bitcoin, the Bitcoin futures. Also, the company keeps showing interest in this new market. Might be too early to say, but if it depends on the COO and possible future CEO of the company, Bitcoin might be indeed a gold mine.