GOLDMAN SACHS AND FTX, WHEN TRADITIONAL FINANCE AND THE CRYPTO SECTOR MEET

The collaboration that is being created between Goldman Sachs and the FTX exchange seems very interesting.

The partnership project could benefit both, as Goldman Sachs could promote new derivative investment products in cryptocurrencies to its customers, while FTX could gain access to the Nasdaq listing, as it did a year ago with Coinbase.

At the moment, it is the two CEOs of the companies who are conducting the negotiations and trying to understand the spaces for the opportunities to mutually develop. But FTX would also like to obtain a change in a rule that requires the use of intermediaries to secure all of its derivatives transactions, with GS currently acting as the intermediary for FTX.

If FTX succeeds, it could operate without the intermediaries.
Many investment banks are radically revising their opinion on cryptocurrencies, which were perceived as a scam until two years ago, with no value.

Goldman Sachs is taking an extremely proactive stance in this regard and in 2022, interest in the crypto sector has intensified day by day, so much so that last month the group reportedly took out a loan with collateral in Bitcoin.

In practice, Goldman Sachs allowed, through this transaction, the borrowing client to use bitcoin as collateral to obtain a cash loan.
It also recently invested in the cryptocurrency-focused platform Elwood Technologies, founded by British hedge fund billionaire Alan Howard, by participating in the funding round.

Let’s see how these projects, which are obviously going ahead regardless of the price drop in recent days, will develop.