New US SEC Chairman to Receive Payments from Banking Giant Goldman Sachs

Gary Gensler, the new chairman of the US Securities and Exchange Commission (SEC), came under fire after a recent disclosure. The report highlighted that the SEC head could receive over $11,724 a year in payments from Goldman Sachs. The revelation showed that Gensler might use his new role as SEC chair to attack retail investors. Some in the crypto sphere questioned Gensler's pension plan from Wall Street giant Goldman Sachs. They argued that the new SEC head could be more inclined to protect…

US Banking Giant Goldman Sachs Reopens Its Bitcoin Trading Desk

The American multinational investment bank and financial services company, Goldman Sachs Group Inc, plans to reopen its cryptocurrency trading desk and start trading bitcoin derivatives.  According to a Monday report citing sources familiar with the matter, Goldman Sachs will sit within its Global Markets Division and "begin dealing bitcoin futures and non-deliverable forwards for clients from next week." Additionally, the banking giant will also be "exploring the potential for a bitcoin exchange-traded fund and has issued a request for information…

Goldman Sachs Head Of Investment Strategy Says Bitcoin Is Not A Store Of Value Asset

While many consider Bitcoin (BTC) as a store of value, Sharmin Mossavar-Rahman, head of the investment strategy group at Goldman Sachs, has refuted that claim due to the asset's high volatility nature.  Mossavar-Rahman commented today during a briefing on Goldman Sachs 2021 outlook, as published by Bloomberg.  She weighed in on several Bitcoin-related topics and compared BTC's recent rally with GameStop Corp. shares. According to Mossavar-Rahman, any asset with a "long-term volatility of 80%" should not be regarded as a…