Goldman Sachs CEO David Solomon signals readiness to engage in Bitcoin and Ethereum market-making, contingent on regulatory changes in the U.S.
Goldman Sachs Explores Crypto Market-Making Opportunities
David Solomon, CEO of Goldman Sachs, revealed that the firm is considering becoming a spot market maker for Bitcoin (BTC) and Ethereum (ETH). Speaking at the Reuters Next event, Solomon emphasized that regulatory clarity is a key prerequisite for the move.
Reputational Concerns Dismissed
Solomon dismissed the notion of reputational risks tied to cryptocurrencies, differentiating digital assets from high-profile scandals like FTX’s collapse. He affirmed that Goldman Sachs evaluates risks based on business partnerships, not the nature of the asset itself.
Blockchain Initiatives Lead the Way
While restricted from offering crypto spot products, Goldman Sachs has invested heavily in blockchain technology. Recent efforts include launching a blockchain-focused platform and preparing tokenization products to meet rising institutional demand.
Current Crypto Holdings and Future Prospects
Goldman Sachs has disclosed owning $718 million in Bitcoin via ETFs, reflecting its gradual engagement with digital assets despite regulatory limitations. The firm continues to advocate for client participation in the crypto space while navigating compliance challenges.
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