BREAKING: Goldman Sachs Forms Cryptocurrency Trading Team
U.S. banking giant Goldman Sachs has informed staff about kicking off its own cryptocurrency trading team, according to a Thursday memo obtained by CNBC.
The memo—which was penned by Goldman partner Rajesh Venkataramani—claims that the team will be part of Goldman’s global currencies and emerging markets (GCEM) business:
I am pleased to announce the formation of the firm’s cryptocurrency trading team, which will be our centralized desk for managing cryptocurrency risk for our clients. The Crypto trading team will be a part of Global Currencies and Emerging Markets (GCEM), reporting to me, within the firm’s Digital Assets effort led by Mathew McDermott.
Goldman plans to continue broadening its presence in the crypto market.