{"id":2408,"date":"2017-12-23T04:27:21","date_gmt":"2017-12-23T04:27:21","guid":{"rendered":"https:\/\/www.legitgambling.com\/news\/?p=2408"},"modified":"2017-12-23T23:51:05","modified_gmt":"2017-12-23T23:51:05","slug":"goldman-sachs-set-crypto-currency-trading-desk","status":"publish","type":"post","link":"https:\/\/www.legitgambling.com\/news\/goldman-sachs-set-crypto-currency-trading-desk\/","title":{"rendered":"Goldman Sachs to Set Up Crypto Currency Trading Desk"},"content":{"rendered":"<p><img decoding=\"async\" src=\"https:\/\/www.legitgambling.com\/news\/wp-content\/uploads\/2017\/12\/goldman-sachs.jpg\" alt=\"Goldman Sachs\" width=\"300\" class=\"alignright size-full wp-image-2420\" \/>Hardly a week had gone after we reported that Bloomberg and Thomson Reuters have added several altcoins such as Bitcoin Cash, Ethereum, Litecoin, and Ripple to their terminals. Logically, the next step would be the use of those price quotes by a big Wall Street firm to trade in the crypto market. It didn\u2019t take a long-time for that to happen.<\/p>\n<p>According to a <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2017-12-21\/goldman-is-said-to-be-building-a-cryptocurrency-trading-desk\">Bloomberg report<\/a>, investment research firm Goldman Sachs is said to be studying the possibility of launching a crypto currency trading desk.<\/p>\n<p>Earlier in December, Goldman Sachs made headlines by saying they will start offering Bitcoin futures contracts for their clients. However, Goldman Sachs safeguarded itself by asking some of its clients to deposit the entire value of Bitcoin futures as margin money.<\/p>\n<p>According to <a href=\"http:\/\/fortune.com\/2017\/12\/21\/goldman-sachs-bitcoin\/\">Fortune<\/a>, Goldman Sachs is setting up a team in New York for trading in crypto currencies, although the final place for housing the trading desk is yet to be decided.<\/p>\n<p>In mid-December, the US regulated exchanges CME and CBOE started offering Bitcoin futures. The Goldman Sachs\u2019 decision adds another level of legitimacy to crypto currencies as an asset class.<\/p>\n<p><strong>Bloomberg TV Markets and Finance<\/strong><\/p>\n<div style=\"position: relative; height: 0; padding-bottom: 56.25%;\"><iframe loading=\"lazy\" style=\"position: absolute; width: 100%; height: 100%; left: 0;\" src=\"https:\/\/www.youtube.com\/embed\/BhVk_PomkYQ?rel=0&amp;showinfo=0?ecver=2\" width=\"640\" height=\"360\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/div>\n<p>The company\u2019s <strong>CEO Lloyd Blankfein<\/strong> had recently said<\/p>\n<blockquote><p>\u201cBitcoin is not for me. But there are a lot of things that there weren&#8217;t for me in the past that have worked out very well. If it was 20 years forward and it worked out, I could tell you why it worked out. But based on everything that I know, I am not guessing that it will work out.\u201d<\/p><\/blockquote>\n<p>The trading desk will come into operation by the end of June 2018, according to unnamed sources of Bloomberg. Presently, Goldman Sachs is looking at different options to maintain custody of the digital assets. It is the first time, a Wall Street behemoth is seriously considering entering the world of digital assets.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Hardly a week had gone after we reported that Bloomberg and Thomson Reuters have added several altcoins such as Bitcoin Cash, Ethereum, Litecoin, and Ripple to their terminals. Logically, the next step would be the use of those price quotes by a big Wall Street firm to trade in the crypto market. It didn\u2019t take [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[68,6,1],"tags":[],"class_list":["post-2408","post","type-post","status-publish","format-standard","hentry","category-cryptocurrency","category-finance","category-usa"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Goldman Sachs to Set Up Crypto Currency Trading Desk<\/title>\n<meta name=\"description\" content=\"Bloomberg and Fortune have cited unnamed sources to report that Goldman Sachs is planning to set up a crypto currency trading division.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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