If Goldman Sachs does launch a bitcoin trading desk, as rumors hint it might, the impact will be felt further afield than the bottom line. Goldman sachs opening a bitcoin trading desk. singaporeOwned by a company called Binary Group LTD and founded in, this broker is one of the oldest and most respected names in the binary options trading industry with over 1 million registered users worldwide.. goldman sachs opening a bitcoin trading desk. Singapore. Dec 14, · Bitcoin options are slated to launch on one of goldman sachs opening a bitcoin trading desk. Malaysia the leading U. The team abides by the laws and the regulations of the territory they are operating from. goldman sachs opening a bitcoin trading desk.
Goldman trading desk bitcoinRumor or Not: Goldman Trading Would Change Bitcoin - CoinDesk
Yared said in the interview with The New York Times. Despite the skepticism, the launch of a Goldman Sachs crypto exchange is huge news for the industry. The company is one of the most recognizable names on Wall Street. A few years ago, it was unthinkable for financial giants like Goldman Sachs to gain exposure to cryptocurrencies. Of course, Goldman Sachs is far from the only major financial company that has announced support for bitcoin. Over the last few years, a growing number of traditional hedge funds , banking companies, and institutional investors have gained exposure to crypto in different ways.
Nevertheless, some Wall Street firms have been outspoken about their skepticism towards bitcoin. Many other traditional finance executives have echoed that sentiment both privately and publicly.
Why did Goldman Sachs launch a bitcoin trading operation? Well, as mentioned above, the industry has become too large for financial giants like Goldman Sachs to ignore. As reported by The New York Times, Goldman Sachs had received inquiries from hedge funds regarding their acceptance of bitcoin. The ultimate decision to begin trading bitcoin contracts went to the top of the company, where it was approved by the Goldman Sachs board of directors.
That signing was reported by Tearsheet. Prior to working for Goldman Sachs, the year old Schmidt was an electronic trader at a hedge fund called Seven Eight Capital.
He left that position in to pursue virtual currency trading on his own. The cryptocurrency market is up across most of the board after the news was reported late Wednesday night.
Stay tuned for more information as we learn more details about the Goldman Sachs bitcoin trading platform. The following article originally appeared in CoinDesk Weekly, a custom-curated newsletter delivered every Sunday, exclusively to our subscribers. Earlier last week, The Wall Street Journal reported on a rumor that Goldman Sachs is considering putting together a new trading outfit for cryptocurrencies.
If true, however, this is more than just another example of Wall Street and bitcoin getting closer. First of all, Goldman Sachs would not be alone in putting financial weight behind bitcoin. The report does stress that Goldman may eventually pass on the project. Yet even if it does, it is indicative of an increasing acceptance in the upper echelons of finance that bitcoin is not going away, and that there is money to be made.
And with market volatility at a five-year low according to the leading index , it makes sense that the investment bank would look for a new opportunity to offset the recent slump — Q2 trading revenues were down 40 percent year-over-year. Will other Wall Street giants follow? If possible, he works on his Python-based open goldman sachs opening a bitcoin trading desk. Malaysia source projects, writing articles, or driving motorbike. However, one of the downsides of EMA is that it is based on past history, which, as all traders hydra system binary options account India will know, is not indicative of future performance, especially in the cryptocurrency industry where volatility is rife.
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