05 Sep Goldman Sachs cools cryptocurrency trading plans — report
[ad_1]
Goldman Sachs has said it is still deciding on its strategy for the growing digital assets market, following reports it had ditched immediate plans to offer trading in cryptocurrencies.
The price of bitcoin, the leading digital currency, fell below $7,000 on Wednesday after Business Insiderreported the US investment bank had pulled back because of an unclear regulatory environment.
Bitcoin had been trading a $7,400 prior to the story, according to data from CoinMarketCap.
A Goldman spokesman said in a statement: “In response to client interest in various digital products, we are exploring how best to serve them in the space. At this point, we have not reached a conclusion on the scope of our digital asset offering.”
Goldman already clears bitcoin futures contracts for select clients, according to a person close to the bank. Futures are derivatives that allow investors to speculate on, or hedge against, movements in an asset without owning the asset itself. CME Group and Cboe…
[ad_2]
Source link