Denying the CNBC’s recent report on yesterday, Goldman Sachs CFO ‘Martin Chavez’statedthat the reportsconcerningthe company’s plan to abandon a digital currencyplatform is afake news. Goldman Sachs is the worlds leading investment banking company headquartered at US.
At the TechCrunch Disrupt Conference held recently in San Francisco, CFO ‘Chavez’ reportedlymentionedthat reportsconcerningthe company’s intentions for a cryptotrading platformwere unfounded:
“I neverthoughti wouldhear myself use this termhoweveri actuallyneed todescribe that news asfauxnews.”
Rumors thatcompany’s has plannedto setupa crypto-focused unit by end of 2018 werefirstly announcedby Bloomberg inDec.last year. However, on Sept. 5th , BusinessInsider mentioned thatunknownsourcesmentioned thatthe firm is scrapping its upcoming cryptodeskplansbecause of theunclearregulativeenvironmentwithin thecryptoecosystem. Chavezsteeredthatthe thrillovera possibletrading deskmightbepremature. On the other hand, CNBC further quoted him saying:
“Whenwetalkedconcerningexploring digital assets,it had beenrelated tobe explorationthat may evolve over time.Perhapssomebodywhowaswonderingabout our activities here gotterribly excited thatwe’dbecreatingmarkets as principal and physical Bitcoin, and as they got into it theyrealized part ofthe evolutionbutits not herenevertheless yet.“
WhileGoldmanhas been clearing and providing liquidity for Bitcoin-linked futures contracts from the CBOE and CME, Chavezmentionedthat theirmustbe a reliable custodyplanbefore the bank, processes physical Bitcoin (BTC).
Mentioning further he added:
“Physical bitcoinisenormouslyfascinating, anddifficult. Fromthe attitudeof custody,we do notyetseeaninstitutional-gradecustodialresolutionfor Bitcoin, we’recurious abouthaving that exist andit is along road from now.”
This fake news rumour somehow seems connected to yesterday’s unexpected crypto market downfall i.e. on 6th Sept.