Bitcoin declines on Goldman Sachs’ remark

Bitcoin declines on Goldman Sachs’ remark

On Friday, Bitcoin managed to gain ground, although it was still in the red because Goldman Sachs debunked reports that it had left its crypto trading desk intact.

On the Bitfinex exchange, Bitcoin headed south to $6,441.10.

Crypto assets in general ascended, with the crypto market cap of the overall market capitalization hitting $202 billion in contrast with Wednesday’s outcome of $239 billion.

The number two crypto alternative by market cap, Ethereum headed south by 4.16% coming up with an outcome of $220.59. In addition to this, the number three digital coin by market cap, XRP managed to gain 0.76% demonstrating $0.29166. Litecoin came up with a reading of $56.22, jumping by 0.14%.

On Friday, Marty Chavez, Goldman Sachs Chief Financial Officer told that the financial giant had gave up an idea to have a bitcoin trading desk launched.

Delivering a speech at a TechCrunch Disrupt conference, Marty Chavez told that the company is currently concerned with finding new ways to offer the most popular crypto coin, including even non-deliverable forwards.

Marty told that these happen to be derivatives over the counter derivatives, and they’re going to be settled exactly in American dollars, while the reference price will be set by several crypto exchanges. It will be the same as what’s actually referenced in the futures contracts. The representative added that the company is currently working on what many folks want to be real – physical Bitcoin.  

According to some sources, Goldman Sachs postponed its plans to have a trading desk started because of the regulatory fears. Instead, the company would concentrate on other projects, including holding crypto assets on behalf of large fund customers. However, the company added that it might get back to the idea of a trading desk later.

As a matter of fact, Bitcoin sank to $6,375.10 after the news.



Where is Dogecoin?
Where is Dogecoin?

Did the era of the Dogecoin, the most famous cryptocurrency, come to its end, or it is just a calm before the storm? Let’s find out!

Latest news

USD Moves Weird Ahead of CPI
USD Moves Weird Ahead of CPI

The United States will publish the Inflation Rate and Core Inflation Rate, also known as US CPI and Core CPI, on August 10 at 15:30 GMT+3.

The NFP Release: One More Punch for USD?
The NFP Release: One More Punch for USD?

The United States Bureau of Labor Statistics will release monthly average hourly earnings, non-farm employment change (NFP), and unemployment rate on August 5, 15:30 GMT+3.

Deposit with your local payment systems

Be on top of your game

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.


A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera