Goldman Sachs and cryptocurrency exchange FTX meet for possible collaboration

Cryptocurrency exchange FTX expands in traditional sector and invests in IEX stock exchange

The CEO of the FTX cryptocurrency exchange, Sam Bankman-Fried met with the CEO of Goldman Sachs, David Solomon. The topic of conversation was the cooperation between the two entities.

Strong partner for FTX 

Goldman Sachs is a global brand, based in the United States, specializing in investment banking, financial instruments and investment management. Its range of activities covers corporations, private and even governmental institutions. The firm also reaches out to individual clients. Goldman Sachs has a rich tradition as it has been operating in the public space since 1869.

FTX, on the other hand, is one of the fastest growing cryptocurrency exchanges in the world, currently ranked third in popularity. It is also headquartered in the United States, which from a regulatory perspective may make it easier to work with Goldman Sachs. The exchange was valued at $32 billion in January of this year.

A prelude to an IPO?

Sam Bankman-Fried and David Solomon met in the Caribbean. According to available information, their conversation concerned the future cooperation of the crypto exchange and the bank. Goldman Sachs would play an advisory role here for the platform, which reportedly plans to go out with an initial public offering (IPO). Solomon was also thought to offer Bankman-Fried’s support during talks with regulators. This is especially important given that FTX filed a Commodity Futures Trading Commission (CFTC) request in March to allow direct clearing of customer derivatives trades. An informal hearing on the matter is scheduled for May 23.

The parties have also entered into discussions regarding possible joint bid-ask pricing of selected assets to facilitate trading and ensure market liquidity.

Similar cooperation has already taken place

Goldman Sachs has already become famous for its cooperation with cryptocurrency exchanges on the issue of IPOs. It concerned Coinbase, which debuted on the traditional trading floor on April 14, 2021. FTX’s exit with an IPO will strengthen the platform’s foundations and is entitled to cause institutional clients to look towards it with a very favorable eye.

At the time of this writing, Goldman Sachs has not commented on the matter.

Disclaimer: Blockbulletin does not take accountability of investments based on the information of the website. We highly advice readers to make extensive research prior to any invest

Share this post

Share on facebook
Share on twitter
Share on linkedin
Share on pinterest
Share on print
Share on email

More News

All articles loaded
No more articles to load

Knowledge Base

Terra (LUNA)

What is Terra (LUNA)?

This time we take a look at another project that dived deep into the hearts of investors. What exactly is…

What is Avalanche (AVAX)?

Avalanche (AVAX) is a blockchain, which conquers the hearts of programmers and at the same time is a great bargain…

What is Sandbox (SAND)?

In this material, we take a look at one of the fastest growing spaces in the metaverse family. We are…
All articles loaded
No more articles to load

Analyses

All articles loaded
No more articles to load

Knowledge Base

What is Terra (LUNA)?

This time we take a look at another project that dived deep into the hearts of investors. What exactly is Terra (LUNA)? Blockchain Terra (LUNA)…

What is Avalanche (AVAX)?

Avalanche (AVAX) is a blockchain, which conquers the hearts of programmers and at the same time is a great bargain for investors. What distinguishes the…

What are stablecoins and how can you use them?

In recent years, cryptocurrencies are experiencing a real “boom”! And not just for cryptocurrencies – the rise in popularity applies to blockchain technology in general.…

What is Sandbox (SAND)?

In this material, we take a look at one of the fastest growing spaces in the metaverse family. We are talking about Sandbox and SAND…

What is Polygon (MATIC)?

Another coin worth looking at is Polygon (MATIC). It is especially liked by many investors. So what makes its popularity constantly growing? Support for Ethereum…

What is Shiba Inu (SHIB)

Shiba Inu (SHIB) is one of the most sought-after coins on the market. This is evidenced by its dynamic rallies and global interest. But does…
All articles loaded
No more articles to load