Bitcoin Trading Desk Rumor Denied By Goldman Sachs CEO Lloyd Blankfein

News | January 25, 2018 By:

Goldman Sachs CEO Lloyd Blankfein has denied reports that the investment bank was considering launching its own bitcoin trading desk.

In October, 2017, it was reported that Goldman Sachs was planning to set up a trading desk to make markets in cryptocurrencies, such as bitcoin. The reports cited people with knowledge of the strategy. At the time, according to reports, the bank would operate within the fixed-income, currencies, and commodities unit’s systematic trading function, which conducts transactions electronically.

Speaking at the World Economic Forum in Davos, Blankfein denied the rumors, saying that Goldman Sachs had not yet made plans to establish a “principle bitcoin business.” But he did say that the bank would be clearing futures in bitcoin for some of its futures clients.

“What we said was we were opening – we’re clearing futures in bitcoins for some of our futures clients,” said Blankfein. “We’d clear them. We’re a prime broker and so, if our clients are going to do it, we’re going to do it. A principle bitcoin business where we’re going long and short, market-making, so far we’re not.”

Blankfein was then asked if his family has gotten involved in bitcoin, to which he replied: “I can’t speak for all of my – you know, for all of my Millennial children,” going on to add, “But the grownups aren’t.”