Goldman Sachs, Citadel Securities, Citigroup, and UBS join BlackRock’s Bitcoin ETF
BlackRock just beefed up its Bitcoin ETF (exchange-traded fund) lineup with heavyweights from Wall Street stepping into the ring. The latest roster features the likes of ABN AMRO Clearing, Citadel Securities, Citigroup Global Markets, Goldman Sachs, and UBS Securities. This move represents a strategic pivot in the way Bitcoin ETFs are perceived and operated within […]
Goldman Sachs and its clients still don’t care about crypto
Let’s get right into it, shall we? Goldman Sachs, the giant of Wall Street, is as uninterested in cryptocurrencies as I am in my neighbor’s opinion about my lawn. Despite the buzz, the hype, and the occasional skyrocketing prices that make headlines, Goldman Sachs and its esteemed clientele seem to be on a different frequency […]
Chief Investment Officer confirms lack of crypto appetite among Goldman Sachs clients
Goldman Sachs, one of the major Wall Street banks, remains skeptical about cryptocurrency, as it claims that digital assets are not an investment class. This perspective was even more clearly substantiated by Sharmin Mossavar-Rahmani, the Chief Investment Officer of the bank’s Wealth Management unit, in a recent interview with the Wall Street Journal, stating that […]
Goldman Sachs sees surge in hedge fund interest in crypto
In a significant shift in investment preferences, hedge fund clients of Goldman Sachs, a leading American banking giant, are demonstrating a renewed interest in cryptocurrency options. This change, reported by Bloomberg, indicates a growing alignment with the trends observed among retail traders in the crypto market. The bank’s hedge fund clients have reportedly increased their […]
Current crypto boom is fueled by retail investors, says Goldman Sachs
Recently, the excitement around cryptocurrencies has hit a new peak, and surprisingly, it’s the everyday folks, not the big-time financial gurus, who are steering this ship. The word on Wall Street, straight from Goldman Sachs’ digital assets head honcho, Mathew McDermott, reveals that while the suits are starting to dip their toes, it’s the regular […]
Goldman Sachs, BNY Mellon, and leading firms pilot blockchain technology for assets
Digital Asset, a prominent blockchain technology firm, recently completed a pilot test of its Canton Network, showcasing its capabilities with the participation of major financial institutions, including Goldman Sachs, BNY Mellon, DRW, Oliver Wyman, and Paxos. The test involved a broad spectrum of participants, totaling 15 asset managers, 13 banks, four custodians, and three exchanges, […]
Goldman Sachs upgrades Coinbase to Neutral amid bitcoin surge
Goldman Sachs recently adjusted its evaluation of Coinbase (COIN), elevating its rating to neutral from a previous sell stance. This revision followed a notable surge in Bitcoin’s value, reaching new heights, alongside a remarkable increase in daily trading volumes on the exchange, levels not observed since 2021. Additionally, Goldman Sachs raised its price target for […]
Major U.S. banks, including JPMorgan consider legal challenge against Federal Reserve—here’s why
Several of America’s largest banks, including JPMorgan Chase, Citibank, and Goldman Sachs, are considering legal action against the U.S. Federal Reserve. Spearheaded by Eugene Scalia, a prominent conservative trial lawyer. The case against the Fed’s new cash reserve requirements Under the representation of the Bank Policy Institute, the banks are challenging the Federal Reserve’s proposed […]
How JPMorgan outshines Goldman Sachs, thanks to this
JPMorgan Chase has recently set a historical benchmark in the banking world, declaring an unprecedented $50 billion net income in 2023, a feat unrivaled in its own history and that of the banking sector. This colossal figure stands in stark contrast to Goldman Sachs’ $8.5 billion for the same period. Such a disparity doesn’t just […]
Crypto power play? Goldman Sachs eyes spot Bitcoin ETF partnership
In what could be a significant shift in the cryptocurrency landscape, Goldman Sachs, the renowned Wall Street titan, is reportedly positioning itself to play a pivotal role in the upcoming Bitcoin ETFs proposed by BlackRock and Grayscale. This move signals a growing interest from traditional financial institutions in the burgeoning world of digital currencies, potentially […]
Spot Bitcoin ETF gains favor with Goldman Sachs
In a recent interview, Mathew McDermott, the Head of Digital Assets at Goldman Sachs, expressed his optimism about the potential approval of spot Bitcoin and Ethereum ETFs (Exchange Traded Funds). McDermott believes that these ETFs will not only broaden and deepen the liquidity in the crypto market but also pave the way for increased institutional […]
Goldman Sachs Prepares to Boost Long-Term Growth Forecasts with Generative AI
Goldman Sachs, a global financial institution known for its economic forecasts and insights, has announced its intention to revise its long-term growth projections. In a recent statement, the company revealed its optimism about the transformative potential of generative artificial intelligence (AI) in driving economic expansion. The promise of generative AI Generative AI, a subset of […]
Former Goldman Sachs analyst and friends face insider trading charges in multi-million dollar scheme
Anthony Viggiano, a 26-year-old former analyst for financial giants Goldman Sachs and Blackstone, finds himself at the center of a criminal insider trading investigation. Authorities say that Viggiano leaked confidential information related to at least eight high-profile transactions between 2021 and 2023. These leaks reportedly passed to long-time friend Christopher Salamone and college buddy Stephen […]
Goldman Sachs’ oversight slip-up leads to huge CTFC settlement
Goldman Sachs Group has agreed to pay $3 million to settle allegations by the U.S. Commodity Futures Trading Commission (CFTC) that its internal controls failed to prevent a potentially disruptive futures trade and that the firm did not adequately disclose the issues to the agency. The CFTC pointed out deficiencies in Goldman’s surveillance of a […]
Goldman Sachs and Apple pull the plug on trading app
An anticipated collaborative effort between tech behemoth Apple and financial powerhouse Goldman Sachs on a futures trading application has fizzled out. The venture, initially pegged for a 2022 debut, faced suspension amidst a challenging economic landscape characterized by rising interest rates and burgeoning inflationary pressures, making riskier assets less appealing. A Partnership Marred by Economic […]
Goldman Sachs believes U.S. will never go into recession – Why?
David Solomon, the formidable presence at the helm of Goldman Sachs, recently discussed his assessment of the current state of the U.S. economy. Contrary to some growing concerns in the financial world, Solomon’s words painted a rather reassuring picture of the nation’s economic trajectory, albeit with a watchful eye on inflation. Unyielding Resilience Despite economic […]
Goldman Sachs snags UK and US firms with Chinese state funds
Amid a backdrop of escalating tensions between Beijing and the West, the renowned Wall Street institution, Goldman Sachs, deftly maneuvered Chinese state funds to acquire a selection of American and British businesses. Intriguingly, this strategic move included the acquisition of a cybersecurity firm known for servicing the British government. Subtle Power Moves: Unpacking Goldman Sachs’ […]
Goldman Sachs considers adviser sale as strategy
Goldman Sachs, the Wall Street titan known for its gilded approach to finance, has once again dropped a bombshell in the ever-evolving financial landscape. The mammoth institution is thinking about parting ways with its investment advisory segment, an ambitious venture it only took under its wing four years prior. While the move may have raised […]
Goldman expects no more hikes until Q2 2024
Goldman Sachs Group Inc.’s economists predict that the Federal Reserve will initiate a decline in interest rates by the end of the next June next year. This reduction is anticipated to occur measuredly, occurring quarterly after that time. Goldman’s economists, Jan Hatzius and David Mericle, have elaborated that the adjustments outlined in their projection stem […]
Coinbase will continue to suffer until crypto proves its worth
Coinbase, the digital currency behemoth, may have posted encouraging financial figures recently, but its journey to dominance is still plagued with hurdles. The crypto realm, dominated by volatile trading and speculations, raises questions about its everyday utility, leaving businesses like Coinbase dangling on uncertain strings. Facing the Crypto Conundrum Goldman Sachs, a banking giant, isn’t […]
India poised to overtake US as second-largest economy, forecasts Goldman Sachs
Goldman Sachs Research has projected that India’s economy is on track to surpass the United States and become the second-largest in the world, trailing only China within a few decades. According to the investment bank’s analysis, India is expected to claim the third position by 2075, with a gross domestic product (GDP) estimated to reach […]
Goldman Sachs considers exiting partnership with Apple, shifts focus on financial services
Goldman Sachs Group Inc, a leading investment banking and financial services company, is contemplating an exit from its partnership with Apple Inc (AAPL.O), according to reports by Wall Street Journal. The collaboration between the two giants began in 2019 with the launch of a virtual credit card. According to the report, Goldman Sachs is currently […]
Elizabeth Warren grills Goldman Sachs over SVB failure
Tension flares as U.S. Senator Elizabeth Warren takes Goldman Sachs to task over the downfall of Silicon Valley Bank (SVB). In an escalating exchange of questions and responses, Warren places the spotlight on Goldman’s actions and potential gains during SVB’s tumble into bankruptcy. The backdrop of profits amid losses Warren outlines a narrative where Goldman […]
Circle welcomes former Goldman Sachs executive Craig Broderick to board of directors
In a strategic move to enhance risk management and strengthen regulatory compliance, Circle Internet Financial, the issuer of the USDC stablecoin, has announced the appointment of Craig Broderick, a former executive at Goldman Sachs, to its board of directors. Broderick, renowned for his distinguished career spanning over three decades at Goldman Sachs, notably serving as […]
American banks face $9b dilemma with China’s mega IPO
In an era of mounting geopolitical tension, American banks find themselves entwined in a $9 billion conundrum connected to Syngenta’s imminent initial public offering (IPO) in China. This record-breaking Shanghai IPO, once seen as a golden ticket for institutions like Goldman Sachs and JPMorgan, has now turned into an intricate puzzle, with geopolitical complexities threatening […]
Goldman Sachs fires 125 managing directors
Goldman Sachs, one of the world’s most respected banking giants, is engaging in a notable shift of strategy as it faces the realities of a rapidly changing global market landscape. Approximately 125 managing directors are slated to lose their jobs in this latest round of downsizing, as the firm copes with a notable drop in […]
Federal Reserve and SEC investigate Goldman Sachs’ actions in Silicon Valley Bank’s collapse
The Federal Reserve and Securities and Exchange Commission (SEC) are investigating Goldman Sachs for its participation in the unsuccessful capital raise and acquisition of Silicon Valley Bank’s securities portfolio before its failure. The Justice Department has issued a warrant, and the authorities are looking into possible inappropriate interactions and Goldman Sachs’ dual status as buyer […]
Microsoft, Goldman Sachs, and leading firms collaborate on blockchain network initiative
Major players in the tech and finance sectors, including Microsoft, Goldman Sachs, Deloitte, and others, are partnering to develop a new blockchain network called the Canton Network. This collaborative effort aims to revolutionize ledger technology in the finance market and connect disparate institutional applications, benefiting the industry. Introducing the Canton Network Announced on May 9, […]
Apple partners with Goldman Sachs to launch high-yield savings account
Apple Card has officially launched a new high-yield savings account for users, offering about 4.15% APY, according to a press release issued today. Apple highlights that this rate is “more than 10 times the national average.” In partnership with Goldman Sachs, the new Apple Card feature enables users to grow their Daily Cash rewards within […]
5 takeaways from Goldman Sachs 2023 market outlook
As 2022 draws to an end, a number of major investment banks have released their outlooks for 2023. According to Goldman Sachs Group Inc. strategists, equity investors hoping for a better year in 2023 will be disappointed. Goldman Sachs says that the bear market phase is not over yet. Goldman Sachs, one of the world’s […]
Goldman Sachs: crypto crash has little effect on the US economy
Goldman Sachs has pointed out that the recent crash in the crypto market will have little effect on the United States economy in the long run. The country is working tirelessly to evade recession as inflation has taken the reins amid the deceleration of growth in the economy. Meanwhile, the crypto market has been a […]
Goldman Sachs processes first Bitcoin-backed loan
TL;DR Breakdown Goldman Sachs collateralizes Bitcoins for money loans The investment bank and other banks on Wall Street are expanding their presence in the crypto space. Banks all across the globe have major investments in the cryptocurrency Industry. American investment bank and Wall Street giant, Goldman Sachs, processed its first Bitcoin-backed loan deal on Thursday. […]
Goldman Sachs meets FTX to discuss partnerships
TL;DR Breakdown Goldman Sachs is reported to be seeking a relationship with the Bahamian crypto exchange, FTX. The CEOs of the two companies met in March in the Caribbeans according to the Financial Times. Goldman Sachs remains committed to exploring the crypto industry. Goldman Sachs, one of the Wall Street banking giants, is apparently seeking […]
Goldman Sachs To Offer Clients OTC Options Trading For Ethereum
TL;DR Breakdown Goldman Sachs plan to introduce Ethereum OTC options trading This is due to the growing interest of their clients in Ethereum Goldman Sachs, one of America’s biggest investment banks, has stated intentions to introduce over-the-counter (OTC) options trading for Ethereum to its customers. This was made known by the bank’s global head of […]
Goldman Sachs launches OTC crypto trading
TL;DR Breakdown Goldman Sachs announced that it carried out its first OTC crypto options trade. The transaction was made with Galaxy Digital. With the development, Goldman is the first US bank to offer OTC crypto options. Traditional financial institutions are increasingly joining the crypto adoption wave. Goldman Sachs has revealed that it facilitated its first […]
