Per Reuters
Goldman Sachs is Investigating Potential Crypto Company Investments After FTX Collapse
12/6/2022
AD_SHOULD_BE_HERE
After the crash of FTX, Goldman Sachs is ready to jump in and invest as the bank plans to do due diligence on several crypto firms.
Goldman's head of digital assets, Matthew McDermott, highlighted the need for regulated crypto players. Despite the cautious approach, the investment bank plans to spend tens of millions investing in crypto companies.
Goldman Sachs has investments in 11 digital companies around the fields of crypto data, blockchain management, and compliance.
AD_SHOULD_BE_HERE
After SBF's crypto platform filed for Chapter 11 bankruptcy, fear, uncertainty, and doubt (FUD) started to spread as the call for crypto regulations grew. Banks are seeing the potential in regulated crypto players after FTX's collapse showed the importance of trustworthiness.
McDermott: “We do see some really interesting opportunities, priced much more sensibly,”
McDermott also described that the underlying technology is still performing despite FTX's crash setting back market sentiment. Goldman's head of digital assets described SBF's now-bankrupt crypto platform as once being the "poster child" for the ecosystem.
AD_SHOULD_BE_HERE
Before the Nov 11 collapse of FTX, Goldman Sachs' CEO David Solomon shared his sentiments on cryptocurrencies with CNBC. Per the CEO, he sees it as "highly speculative," but despite that, he notices the potential for the underlying technology.
Solomon believes that the potential lies when cryptocurrency's infrastructure "becomes more formalized." The head of digital assets said private distribution ledger tech is already at work within Goldman Sachs.
Solomon: "I think the technology is super interesting... to allow us to be able to move money with less friction"
AD_SHOULD_BE_HERE
James Gorman, CEO of Morgan Stanly, shares slightly different views saying it isn't a fad that will just disappear. Despite this, the CEO struggles to place a determining value on these digital assets.
Gorman: “I don’t think it’s a fad or going away, but I can’t put an intrinsic value on it,”
While Goldman Sachs seems in the green and Morgan Stanly remains somewhere in the middle, Noel Quinn, the CEO of HSBC, is in the red with no interest in expanding their investments into cryptocurrencies.
AD_SHOULD_BE_HERE
Resources:
AD_SHOULD_BE_HERE
See flow at unusualwhales.com/flow.
Trump: I want no more property taxes across the United States
7/4/2025 10:14 PMTrump's "Big, Beautiful" has $1.1 trillion in health cuts and 11.8 million losing care
7/3/2025 7:31 PMTrump’s Big, Beautiful bill passes the House
7/3/2025 7:27 PMGas prices haven’t been this low for the Fourth of July since 2021
7/3/2025 4:32 PM
Stay Updated
Subscribe to our newsletter for the latest financial insights and news.
Unusual Whales does not confirm the information's truthfulness or accuracy of the associated references, data, and cannot verify any of the information. Any content on this site or related pages are not intended to provide legal, tax, investment or insurance advice. Unusual Whales Inc. is not registered as a securities broker-dealer or an investment adviser with the U.S. Securities and Exchange Commission, the Financial Industry Regulatory Authority (“FINRA”) or any state securities regulatory authority. Nothing on Unusual Whales should be construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any security by Unusual Whales or any third party. Options, investing, trading is risky, and losses are more expected than profits. Please do own research before investing. Please only subscribe after reading our full terms and understanding options and the market, and the inherent risks of trading. It is highly recommended not to trade on this, or any, information from Unusual Whales. Markets are risky, and you will likely lose some or all of your capital. Please check our terms for full details.
Any content on this site or related pages are not intended to provide legal, tax, investment or insurance advice. Unusual Whales Inc. is not registered as a securities broker-dealer or an investment adviser with the U.S. Securities and Exchange Commission, the Financial Industry Regulatory Authority (“FINRA”) or any state securities regulatory authority. Nothing on Unusual Whales should be construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any security by Unusual Whales or any third party. Certain investment planning tools available on Unusual Whales may provide general investment education based on your input. You are solely responsible for determining whether any investment, investment strategy, security or related transaction is appropriate for you based on your personal investment objectives, financial circumstances and risk tolerance. You should consult your legal or tax professional regarding your specific situation. See terms for more information.