Goldman Sachs Claims Reports On Refusal To Launch Crypto Trading Are Fake
Martin Chavez, financial director of the American investment bank Goldman Sachs, denied the reports about the bank's refusal to launch cryptocurrency trading, TechCrunch reports.
On Thursday, September 6, Business Insider published the news that Goldman Sachs does not plan to trade cryptocurrencies in the near future.
Martin Chavez (source: techcrunch.com)
Goldman Sachs continues to consider the possibility of services provision related to bitcoin derivatives, but the exact dates for the project implementation are not yet known, Chavez explained. The financial director claimed that the message in media was fake and added that he heard the news during his visit to New York. He added that the bank's representatives did not report about any changes in the plans of the financial institution.
Specialists of the bank, heeding users' requests, are currently developing a platform for operations with over-the-counter bitcoin derivatives, Chavez stated. He noted that Goldman Sachs has not yet developed a technology for a custody service to store bitcoin.
Now the bank's customers can trade futures for cryptocurrencies and CFDs, which allow them to bet on upswings in the bitcoin price, regardless of the availability of necessary funds.
During the period when the fake news spread, the cryptocurrency market demonstrated a sharp collapse in the value of tokens. In particular, from 5 to 6 September, bitcoin lost 12% of its price and was traded at $6500.