Elwood secures investments from Goldman Sachs and Barclays

American multinational investment bank Goldman Sachs and British bank Barclays have invested in crypto trading platform Elwood Technologies. Elwood Technologies unveiled this news earlier today through a press release. The banks joined other renowned investors to raise $70 million in the company’s Series A funding round. According to the press release, Goldman Sachs co-led the funding round alongside Dawn Capital. The list of investors in the funding round featured both traditional financial institutions and digital asset companies. These include BlockFi…

Former Goldman Sachs CEO Acknowledges That Crypto Is “Happening”

Though Bitcoin has been at its most oversold point since March 2020, long-term investors haven’t taken their eyes off the ball. Ex-Goldman Sachs CEO Lloyd Blankfein believes the crypto industry is “happening”, having matured significantly in 2021. As a result, he suggested that now could be a great time to invest, much like other devotees buying this week’s dip. A Rapidly Growing Ecosystem Blankfein aired his thoughts on the industry in an interview with CNBC’s Andrew Sorkin on Monday. Sorkin…

Bitcoin Wins 2021 Over All Capital Markets, Says Goldman Sachs

Bitcoin may not have met 2021 price expectations, but it was still an incredible year by non-crypto standards. According to data from Goldman Sachs, the primary cryptocurrency outperformed all capital markets throughout last year. Moreover, its growth appears to have come at the expense of gold, which Bitcoin is often compared to as its competitor. Bitcoin VS The Old Guard As the investment bank’s equity basket return scorecard presents, Bitcoin saw 60% returns from January 1st to December 31st 2021.…

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…