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.


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.