Goldman Sachs to Open Cryptocurrency Trading Desk Before June 2018
- The new desk will likely involve the bank's currency-trading division and strategic investment group.
Goldman Sachs is reportedly opening a trading desk dedicated to Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term and other digital currencies by the end of June, if not earlier, people with knowledge of the matter told Bloomberg Thursday.
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The move represents another significant milestone in the asset's mainstream adoption, which already took a giant leap forward this month when Cboe and CME Group exchanges launched their futures contracts.
The action also makes the investment bank the first blue-chip Wall Street firm opening a dedicated cryptocurrency trading desk. This openness to deal directly in this burgeoning yet controversial market is also quite interesting, especially considering that Goldman Sachs’ CEO Lloyd Blankfein repeatedly stated that he is still not a believer in Bitcoin technology.
According to the report, the bank hasn’t decided where to house the desk, but the operations will likely involve both its currency-trading division and the bank’s strategic investment group. Goldman Sachs is now assembling a team in New York, says the report, and the new unit could eventually operate in making markets in crypto assets much as they do for currency or stocks instruments.
Price swings in Bitcoin are increasing as the 17-fold jump in the value of the currency that was initially viewed as a haven for illicit activity has now captivated everyone. But this merits the attention of Wall Street banks.
Big banks have dabbled in Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term technology, which underpins Bitcoin, and acknowledged its potential to reshape the investment and banking industries. But they were mostly wary of venturing directly into making markets for such digital assets that have been used extensively on darkweb marketplaces.
Goldman Sachs is reportedly opening a trading desk dedicated to Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term and other digital currencies by the end of June, if not earlier, people with knowledge of the matter told Bloomberg Thursday.
Discover credible partners and premium clients in China's leading event!
The move represents another significant milestone in the asset's mainstream adoption, which already took a giant leap forward this month when Cboe and CME Group exchanges launched their futures contracts.
The action also makes the investment bank the first blue-chip Wall Street firm opening a dedicated cryptocurrency trading desk. This openness to deal directly in this burgeoning yet controversial market is also quite interesting, especially considering that Goldman Sachs’ CEO Lloyd Blankfein repeatedly stated that he is still not a believer in Bitcoin technology.
According to the report, the bank hasn’t decided where to house the desk, but the operations will likely involve both its currency-trading division and the bank’s strategic investment group. Goldman Sachs is now assembling a team in New York, says the report, and the new unit could eventually operate in making markets in crypto assets much as they do for currency or stocks instruments.
Price swings in Bitcoin are increasing as the 17-fold jump in the value of the currency that was initially viewed as a haven for illicit activity has now captivated everyone. But this merits the attention of Wall Street banks.
Big banks have dabbled in Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term technology, which underpins Bitcoin, and acknowledged its potential to reshape the investment and banking industries. But they were mostly wary of venturing directly into making markets for such digital assets that have been used extensively on darkweb marketplaces.