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Tag Archives: Cryptocurrency Trading

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How the Cryptocurrency Industry will Benefit from Goldman Sachs’ Entry

by David Drake   While many big banks have opted to stay away from cryptocurrencies, at least for the time being, Goldman Sachs has been paying keen attention to the industry. Just recently, the bank announced plans to set up a Bitcoin trading desk. If this plan pulls through, the bank will be the first to set up such a facility on Wall Street. Initially, the bank will not be trading actual Bitcoins. However, Goldman Sachs has already set up a team to explore the possibilities of doing so should the bank get a regulatory approval. Though Goldman Sachs’ entry into the cryptocurrency space will create some concerns for the bank, players in this space feel it will be critical in validating cryptocurrencies. Maša Vozlič, psychologist for Big Data Profiling at BehaviourExchange, says, “The fact that an esteemed financial institution such as Goldman Sachs recognizes the future relevance of Bitcoin ... Read More »

Can Trading by Mainstream Financial Institutions Boost Crypto Prices?

by David Drake A survey published by Thomson Reuters has revealed that one in five financial institutions is considering cryptocurrency trading this year. This translates to over 400 financial institutions like large asset managers, trading desks and hedge funds. According to the co-head of trading at Thomson Reuters, this is a sure sign the crypto  trading market is entering mainstream financial services industry. Moreover, in an interview with CNBC, Adena Friedman, Nasdaq CEO, revealed that Nasdaq could become a cryptocurrency exchange in future, if proper regulations are put in place. In the long-term, these developments are likely to have a positive effect on crypto prices. Individual Investors One of the ways to trading of financial institutions will boost cryptocurrency prices is the rise in the number of investors. According to Joseph Onyero, CEO of Properbuz, the growing interest of financial institutions in cryptos will attract more individual investors through institutional trading ... Read More »

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