Against the background of bitcoin, which is restlessly rushing to new price heights, we have more and more news about cryptocurrencies. Right now, we are ready to share with you the latest information: Goldman Sachs resumed trading in digital currencies, and the Binance exchange invested in the Multicoin Capital hedge fund.
Goldman Sachs and the cryptocurrency market
On March 2, Reuters reported that one of the world’s largest financial conglomerates, Goldman Sachs Group Inc, has revived its electronic assets division. It became known that from March 8, he will resume trading non-deliverable foreign exchange forwards and futures on Bitcoin.
In addition, according to sources from an international news agency, the bank is showing a very impressive interest in the cryptocurrency market. Goldman Sachs reportedly plans to open a BTC exchange-traded fund as well as a digital asset storage facility.
Recall that the above-mentioned department for working with bitcoin and some altcoins was created in 2018. Later, his work was terminated, however, as we learned, Goldman Sachs is back in business.
Binance and Multicoin Capital
Binance, one of the world’s largest online digital coin trading platforms, has announced that it has invested in cryptocurrency hedge fund Multicoin Capital. Unfortunately, it has not yet been possible to find out what amount is being discussed.
The parties note the growing interest in Bitcoin from institutional investors, however, they want to accelerate the development and expansion of the cryptocurrency market, as well as improve and scale the infrastructure of blockchain systems.
Please note that Union Square Ventures, Ribbit Capital, Craft Ventures and Andreessen Horowitz are already cooperating with the hedge fund Multicoin Capital.
As for Binance, it is worth noting that the company has actively invested in cryptocurrency-oriented projects before. Recent investments include blockchain startup Torus, South Korean fintech firm BxB and Indonesian platform Tokocrypto.
Summing up the result
Large companies are already more boldly starting to work with digital money, and this has a positive effect on the development of the entire segment. A prime example is the story of how Tesla helped Bitcoin renew its historic price record.
Against the backdrop of growing interest among institutional investors in digital assets, one of the world’s largest financial conglomerates, Goldman Sachs Group Inc, resumed trading in cryptocurrency.
In order to accelerate the development of this financial sector, the popular cryptocurrency exchange has invested in the hedge fund Multicoin Capital. The parties hope that they will be able to scale up the infrastructure of blockchain systems. We wish them good luck and continue to follow developments in the digital asset market.
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