Goldman Sachs, the fifth-largest bank in the United States and a multinational investment bank and financial services has finally stepped into the crypto-space by making their first hire for Cryptocurrency Unit.
Goldman Sachs has appointed Justin Schmidt as their VP and the Head of Digital Assets Market division according to a local newsletter, Tearsheet. Justin Schmidt is a graduate of MIT and has been a crypto-trader for more than a year. He has previously worked in many financial companies such as Seven Eight Capital as the Senior Vice President, LMR Partners as a Portfolio Manager, World Quant LLC as the Vice President of the Portfolio Management division.
The spokesperson of Goldman Sachs, Michael DuValley earlier reported that the company is looking into how to provide the best service in the crypto-space in response to client interest in digital currencies.
Tiffany Galvin, another spokesperson for Goldman Sachs says:
“At this point, we have not reached a conclusion on the scope of our digital asset offering.”
Goldman Sachs was one of the first few financial institutions to accept Bitcoin and provides exposure to their clients to Bitcoin [BTC] through their Bitcoin Futures Contracts offered by Cboe Global Markets and CME Group exchanges.
The controversy of Goldman Sachs Cryptocurrency Trading Desk has been going about for quite some time now. With some claiming that the financial giant is going to launch a trading desk and some claiming that they already have one. The company hasn’t given a clarity regarding the Cryptocurrency Trading Desk yet.
Official Wazzan, a Twitterati says:
“Just a matter of time before they release their profit in Satoshissss”
James Stalin, a crypto-enthusiast says:
“Can’t make out if this is a good news or not. Very soon all the other major financial institutions will start taking part in this. JP Morgan will the first one to jump in and take part in the competition of ‘who offers the best crypto-service’.”
Jessica George, a cryptocurrency investor and trader says:
“It’s slowly starting to hit everyone that crypto is the future. Looks like the financial institutions want to be in charge of everything again.”
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