Goldman Sachs plans on purchasing or investing in crypto companies at a discount following the collapse of crypto exchange FTX.
Goldman Sachs intends to spend tens of millions of dollars to this end, according to its head of digital assets. Managing Director Mathew McDermott said the investment bank is currently performing due diligence on an unspecified number of crypto firms. McDermott remarked that many of these “interesting opportunities,” have been significantly marked down as a consequence of the FTX collapse.
Goldman Sachs Crypto Moves
Following a run on its exchange, FTX filed for bankruptcy on Nov. 11. The size and integration of the firm shook the crypto industry and left many associated firms struggling in the wake of its collapse.
Consequently, investors have been seeking out safer, more established ways of engaging with cryptocurrencies. McDermott acknowledged that Goldman’s trading volumes saw a boost…
