Goldman Sachs, the global investment banking giant has revealed the formation of a new crypto dedicated team in their latest employee memo. The crypto team exists within the firm’s global currencies and emerging markets trading division. The employee memo issued on Thursday marks the first official acknowledgment of the giant about their dedicated crypto-focused division. The official memo read,
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.
The newly created cryptocurrency desk has traded two Bitcoin-linked derivatives until now as the announcement comes on the heels of a new Bitcoin product launch by the banking giant for its wealthy clients. The two derivative products include Bitcoin NDFS and CME Bitcoin Futures. [read more]
