Goldman Sachs CEO says crypto desk was all fake news

  • David Soloman made remarks addressing before the United States House of Representatives Financial Services Committee.
  • There were never any plans for the investment bank to have a crypto desk according to the CEO.

Goldman Sachs CEO David Solomon was recently speaking before the United States House of Representatives Financial Services Committee has denied that the investment bank ever had plans to open a crypto trading desk and stated that earlier media reports suggesting otherwise were invalid. 

In 2018, it was reported, Goldman Sachs’ reportedly had plans to create a crypto desk unit by the end of June 2018, the initial reports were covered in a December 2017 from Bloomberg. Not long after this story that hit market, sources had noted via the Business Insider that the project had been placed on hold.

David Solomon in his comments to the house of reps financial services committee said:

 The first Bloomberg article wasn’t correct. Like others, we are watching and doing work to try to understand the cryptocurrency market as it develops but we never had plans to open a cryptocurrency trading desk.

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