The CEO of Goldman Sach came to light refuting rumors about the bank aiming to launch a crypto-focused trading desk. The statement was made on April 10 during the US House of Representatives Financial Service Committee.
Previous reports expressed that the bank was planning to start a cryptocurrency trading desk prior to the end of June 2018. The detailed information about the plans were released in December 2017 in a report by Bloomberg. In September of 2018, a report, written by sources associated with Business Insider, said that the idea was deserted. The CFO of the bank declared that these statements were “fake news”.
As stated by the the CEO of Goldman Sach, David Solomon: “The first [Bloomberg article] wasn’t correct. Similar to others, we are observing and working towards understanding the cryptocurrency market as it grows, however, we had never intended to open a cryptocurrency trading desks.”
Nevertheless, Solomon did not claim that they are eliminating the notion of involvement in crypto markets: “We might, at some point, but there’s no question, when you’re addressing cryptocurrency, it’s a new field, it is unclear from a regulatory perspective, it’s unclear whether in a long run, as a currency, those technologies are going to operate properly and be viable.”