Cryptocurrency
Goldman Sachs CFO says bank is working on bitcoin derivative for clients via @CNBC
As reported by CNBC, “A top Goldman Sachs executive looked to clear the air Thursday about the bank’s cryptocurrency ambitions after reports that it was abandoning plans to open a trading desk for cryptocurrencies. “‘I never thought I would hear myself use this term but I really have to describe that news as fake news,’ Goldman Sachs Chief Financial […]
As reported by CNBC, “A top Goldman Sachs executive looked to clear the air Thursday about the bank’s cryptocurrency ambitions after reports that it was abandoning plans to open a trading desk for cryptocurrencies.
“‘I never thought I would hear myself use this term but I really have to describe that news as fake news,’ Goldman Sachs Chief Financial Officer Martin Chavez said on stage at the TechCrunch Disrupt Conference in San Francisco.
“The CFO said Goldman is working on a type of derivative for bitcoin because ‘clients want it.’
“‘The next stage of the exploration is what we call non-deliverable forwards, these are over the counter derivatives, they’re settled in U.S. dollars and the reference price is the bitcoin-U.S. dollar price established by a set of exchanges,’ Chavez said.”