Report: Goldman Sachs CEOs and FTX CEOs Meet to Discuss Possible Collaborations

The Wall Street giant, after years of demeaning the cryptocurrency industry has taken a completely different approach. They now make frequent positive comments about the industry and have new initiatives. A Financial Times report says that the latest example comes in form of a meeting to discuss a closer relationship with FTX.

The FT coverage informed that David Solomon, the bank’s chief executive met with FTX Founder and CEO – Sam Bankman-Fried – last month. The idea was to “discuss forging closer ties between the Wall Street bank” and the rapidly-growing cryptocurrency exchange.

Citing people familiar with the matter, the report indicated that the two executives were mostly talking about regulations and FTX’s recent application with the US derivatives agency – the Commodity Futures Trading Commission.

The CFTC extended the deadline to submit public comments for the LedgerX US (FTX US), case where the exchange requested the green light to offer derivatives products.

Goldman also reportedly plans to participate in FTX’s future funding rounds. With a total value of $32 billion, the company has successfully completed several such events over the last year.

Additionally, the Wall Street behemoth offered its services to help FTX if the exchange wanted to follow Coinbase’s route and become a publicly-traded company. SBF claimed that his company is more interested than going public in private funding rounds.

Interestingly, SBF made an intriguing comment last year when asked about his company’s expansion plans, suggesting that if FTX becomes big enough, it could buy giants like CME and even Goldman Sachs.

This giant bank has had a difficult relationship with cryptocurrency. It was one of the most vocal critics up until last year, when it made a 180-degree turn. Since then, Goldman has been an active participant in the growth of the digital asset ecosystem by offering such investment services, working on Coinbase’s direct listing, and predicting a $100K price tag for bitcoin.

 

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