Goldman Sachs CFO Marty Chavez says that his bank still has keen interest in crypto currencies. Earlier this week reports said that Goldman Sachs backed out of the crypto market, but that’s what Chavez called ‘fake news’. The CFO said this during the TechCrunch Disrupt Conference (see video below: 4:41.30).
The banking giant is aiming to build a crypto trading platform. But this would not be a platform where you can exchange different crypto currencies. Instead Goldman Sachs is eyeing so-called futures. These are promises on how the value of a coin will move. Clients of Goldman Sachs have been asking for futures contracts since May, and therefore they have a team working hard on a solution.
There is not timeline in place just yet. “It’s a long road and so I would just be speculating”, Chavez said.
Talking about speculation. The fake news about Goldman Sachs backing out come just at the moment some whale was trying to sell 10.000 BTC. Coincidence? Maybe (not). This made the value of Bitcoin drop by 13%, as we reported earlier.