After the defeat of FTX, Goldman Sachs planning onto have or to continue on companies specialist in crypto. “The tall one banks see a opportunities with continue the business “, according to GS.
Goldman Sachswhich previously invested in Web3 companies, is now looking to make new deals.
on Reuters, Mathew McDermottthe head of digital assets at GS, said that the collapse of FTX last month pushed demand for ” more reliable and regulated actors “.
And the big banks see an opportunity to continue the business,” he added.
The financial institution, which aims in particular to raise 2 billion dollars this summer to buy back the assets of Celsius, now has several tens of millions of dollars to make an investment or acquisition.
The fall of Sam Bankman Fried’s empire has reduced investor appetite and affected the valuation of major platforms in this industry.
It has definitely turned the market around in terms of sentiment, no doubt about it. […] But the underlying technology continues to work,” McDermott said.
The FTX bankruptcy also increased Goldman’s trading volume, according to the executive. “That increasingthis is the number of financial institutions that want to do business with us […] I suspect a number of them do business with FTX, but I can’t say with absolute certainty,” he said.
Goldman further sees opportunities in terms of recruitment for him branch of crypto as giants in the sector cut their workforces.
Last spring, the sources cited in Financial Times admitted that the bosses at Goldman Sachs and FTX meeting to discuss potential future collaborations. Many topics, including an IPO on the exchange, were discussed at the time.
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