Goldman Sachs Hires Its First Crypto-Trader

Goldman Sachs Hires Its First Crypto-Trader

The cryptos are getting a wider recognition on Wall Street as its titan Goldman Sachs enlists a cyber-asset trader to assist its clients in purchasing and vending bitcoin and its ilks.

This occasion is special also because it is the first time this financial services company does hire in the digital currencies market unit.

Our top trading bots

Welcome First Goldman Sachs Crypto Trader

Justin Schmidt is the person who is now in charge of deals connected with the cyber-assets ecosystem in Goldman Sachs. He was hired by the Wall Street giant last week on a position of a vice president and head of cyber-assets markets. In particular, he began his role on April 16, according to the financial industry media outlet got one.

The bank, in its turn, kept rejecting the rumors. Nevertheless, two years before that – in 2015 – the company appeared to be a part of a $50 mln funding round in Circle. At that time, it was developed to allow customers trade cyber-assets.

Finally, after four months of ambiguity, Goldman officially announced it has enlisted the first crypto-trader. The news about the 16 April’s hire started spreading only after four days since that when the company’s representative Tiffany Galvin released a formal 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 has always been known for been ahead of its rivals. So there is no surprise the company is piling funds into a person who is supposed to help it examine crypto-options for clients.

As Tanaya Macheel concludes in the Tearsheet material, the fact that Goldman currently gets involved in the crypto-ecosystem is rather a “facilitator” than a real “market maker.” At present, Goldman offers its customers exposure to cryptos via BTC futures (by Cboe and CME), but it doesn’t interact with any virtual money exchanges, as per Galvin.

FTX and CoinShares launch physical staked Solana ETP
CoinShares, one of the largest crypto investment firms in Europe, and FTX crypto exchange have united forces to launch a new physically-backed Solana (SOL)...
No crypto for criminals: Coinjoin BTC mixing tool to block illicit transactions
CoinJoin, a popular Bitcoin (BTC) mixing tool, will block transactions associated or flagged as illegal. The announcement came from the official Wasabi...
NY stock exchange owner ICE buys stake in tZero security token platform
The Intercontinental Exchange (ICE) has announced a strategic investment in private digital securities marketplace and crypto asset liquidity platform tZero.ICE,...
Defying the bear market, this automated strategy is up 15% so far in 2022
Let’s be blunt: Being in a bear market sucks profoundly as a crypto trader. Most strategies that work when everything is green lead to losses. Growing the...
Japanese megabanks join consortium launching yen-based digital currency
A consortium of roughly 70 Japanese companies, including the country’s biggest financial institutions, have joined forces to trial and launch a new yen-based...
Uniswap taps former Obama campaign spokesperson to handle comms
Decentralized exchange Uniswap has been making some interesting hires, the latest being a communications expert with close ties to the U.S. Democrat party.Former...
One currency to rule them all: Facebook’s Diem has global ambitions
The year 2021 seems to be a big year for the blockchain world as several projects, such as nonfungible tokens (NFTs) and centralized decentralized finance...
Dogecoin whale activity slows down as billions of dollars depart blockchain
After a flurry of activity that saw Dogecoin (DOGE) briefly process a higher dollar value of daily transactions than Bitcoin (BTC) and Ether (ETH) combined,...
EOS Plunges 32% In Rout
Investing.com - EOS was trading at $9.7897 by 20:03 (00:03 GMT) on the Investing.com Index on Thursday, down 32.34% on the day. It was the largest one-day...
TON Labs raises $6M in support of Free TON blockchain
TON Labs, the development arm behind the Free TON blockchain, raised $6 million through an investment round led by venture capital firm Runa Capital. The...
Fei Protocol genesis locks up $1 billion in ETH, but LPs could face losses
The launch of Ethereum-backed stablecoin called Fei has locked up almost a billion dollars’ worth of ETH during its genesis event. But the launch hasn't...
Ohio Will Start Accepting Bitcoin For Tax Payments, BTC Plunges Below $3,600
The American state of Ohio appears to be the first one where people can pay taxes in bitcoin. A recent Wall Street Journal report specifies, however, that...
Blockchain Market Could Be $7 bln and Boost Amazon, Microsoft, BofA Says
Novel estimates from one of the most influential investment banks in the world — Bank of America — showcase unalterable ledger spread will be of use for...
Steven Seagal Became The Face Of The Dubious ICO 'Bitcoiin'
Hollywood actor Steven Seagal became the international ambassador of a Bitcoiin2Gen project; his participation is actively used by the creators of the...
Chechnya Leader Kadyrov Admitted Buying Bitcoin, Urged Not to Ban Cryptos
The leader of Chechen Republic, which is a part of Russia, lose all the money that they piled into cryptos. He also emphasized that the market is full...