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Goldman Sachs Eyes Crypto Firms as FTX Collapse Offers Discount

Rony Roy - Coin Edition
2022-12-06 09:28
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  • Goldman Sachs is looking to invest in crypto firms.
  • According to the firm, FTX collapse has made opportunities “reasonably priced.”
  • Britannia Financial group is looking to offer crypto services.
American multinational investment bank Goldman Sachs is looking to invest in crypto firms as markets remain affected by the FTX fiasco, according to Goldman’s head of digital assets Mathew McDermott. In an interview with publisher Reuters, McDermott noted that the financial giant is looking into multiple crypto firms.
According to McDermott, the collapse of Sam Bankman-Fried’s FTX has “set the market back” in terms of sentiments. As such, the “opportunities” that the investment bank is eyeing are now “much more sensibly priced.”
The digital assets head went on to assert that despite unsettling market conditions fuelled by FTX collapse, the underlying blockchain technology remains strong, adding:
FTX was a poster child in many parts of the ecosystem. But to reiterate, the underlying technology continues to perform.
Similar sentiments regarding blockchain tech have been previously voiced by the firm’s CEO David Solomon. In an interview with CNBC on November 10, Solomon clarified that he views cryptos as “highly speculative” but sees great potential in blockchain technology.
The post Goldman Sachs Eyes Crypto Firms as FTX Collapse Offers Discount appeared first on Coin Edition.
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