RATE Group | Cryptocurrencies resume drop as Bitcoin slips 3% in 10 minutes, Ethereum plunges 12%
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Cryptocurrencies resume drop as Bitcoin slips 3% in 10 minutes, Ethereum plunges 12%

05 Sep Cryptocurrencies resume drop as Bitcoin slips 3% in 10 minutes, Ethereum plunges 12%

Posted at 15:51h in Ethereum News by

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The market’s biggest digital coins dropped sharply on Wednesday amid a report that Goldman Sachs Group Inc. is pulling back on near-term plans to set up a cryptocurrency trading desk.

Bitcoin, the biggest digital asset, erased gains and fell more than 3 per cent in about 10 minutes. Litecoin, Ethereum and Ripple followed suit. Ethereum skidded by as much as 12 per cent.

Goldman has moved its plan for a crypto trading desk lower down on its priority list, Business Insider reported, citing people familiar with the matter. The Wall Street banking giant is focused on other digital-coin services, such as a custody product, the report said.

“In response to client interest in various digital products we are exploring how best to serve them in this space,” a spokesman for Goldman Sachs said. “At this point we have not reached a conclusion on the scope of our digital asset offering.”

Goldman Sachs had been taking baby steps around cryptocurrencies since hiring Justin Schmidt…

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