Goldman Sachs refutes the creation of a cryptocurrency trading desk

Crypto News

Governments and institutions have been more concerned with cryptocurrencies for some time. However, factual information circulates about the involvement of large global companies. Goldman Sachs is the latest to deny an announcement that it planned to set up its own cryptocurrency trading bureau.

Solomon speaks at the hearing

The CEO of US financial institution Goldman Sachs categorically refuted the launch of a previously announced cryptocurrency trading bureau.

David Solomon spoke on this topic during a hearing titled “Systemic Review of Global Banks 10 years after the financial crisis. “

The congressional hearing brought together the top leaders of America’s seven largest banks.

They talked about the excessively high salaries of Wall Street bankers and the degree of accountability of institutions over the last 10 years.

Solomon took the opportunity to say that Goldman Sachs never intended to create a virtual currency trading counter.

Bloomberg spread a false news?

A Bloomberg report aired in December 2017 circulated the false information.

The news came as the price of Bitcoin (BTC) reached its all-time high of $ 20,000.

“This Bloomberg article was not appropriate. We are watching the cryptocurrency market as it develops, and we are trying hard to understand it. “

“We have clients with whom we have engaged in the clearing of physically settled futures and who have some functionality. But apart from that, we never intended to open a cryptocurrency office. “

Nevertheless, the company is not totally closed to this idea.

“We could do it at some point, but there is no doubt that when it comes to cryptocurrencies, we are talking about a new domain (…). It is not known if, in the long run, these technologies will work properly and will be viable. “

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