Just yesterday we reported from CryptoTrend that a report revealed that Goldman Sachs was offering its clients access to crypto derivatives of Bitcoin through non-deliverable forwards (NDF). Today CNBC reports that Goldman Sachs would be launching a crypto derivatives trading desk.
Goldman Sachs plunges into the deep waters of the crypto industry
Today CNBC revealed an internal memorandum from Goldman Sachs announcing the launch of a crypto trading desk; which will be under the Global Currencies and Emerging Markets division of Goldman Sachs.
According to the memo, Rajesh Venkataramani, a partner at Goldman, explained that the trading desk will only trade crypto NDFs, along with future BTC CME trades on a principal basis, all cash settlements.
Consequently, these types of contracts that are settled in cash do not require Goldman Sachs to deal with crypto, a relevant aspect given that the bank is not yet in a position to do so.
Citigroup begins to turn its attention to the crypto industry
According to the Financial Times, Citigroup’s global head of currency, Itay Tuchman, the bank is exploring the possibility of offering crypto-based services.
However, Tuchman stressed that, despite exploring different crypto products, they are careful not to raise the alarm of regulators.
Thus he explained that «We should not do anything that is not safe and sound. We will step in when we are confident that we can build something that benefits customers and that regulators can support“, He said.
Coinbase has been overshadowed, says Scott Melker
Yesterday Scott Melker assured on Twitter that the shares of the crypto exchange Coinbase have lost their attractiveness and, consequently, the brightness that they awakened.
Specifically, Melker asserted that «There was a time when adding a cryptocurrency to Coinbase caused it to skyrocket in price. Now we need Coinbase to add DOGE to save Coinbase’s own stock».
In a few lines …
- Yes, the UFC will launch the Fan Token through its Blockchain application Socios.com.
- The central bank of England warns crypto investors to be careful of the associated risks.
- Amid increased regulation, crypto exchanges in Turkey will be required to report any transaction valued above $ 1,200.
- The crypto ADA just hit a new all-time high.