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Goldman Sachs seeks cooperation with crypto exchange FTX

 


The influential American investment bank Goldman Sachs is apparently planning a partnership with the large crypto trading platform FTX.


According to media reports, Goldman CEO David Solomon has already met with FTX founder Sam Bankman-Fried for a private conversation to explore the various possibilities of working together.


As the Financial Times reports , regulation is said to have been one of the most important topics at the meeting, and the investment bank is said to have offered the crypto exchange its help in this context, especially when it comes to dealing with the CFTC. In addition to this legal assistance, the Wall Street Bank is said to have announced its participation in future rounds of financing.


It remains unclear how concrete a future cooperation really is, but this case nevertheless shows that the traditional financial world and the crypto industry are growing together more and more. Goldman Sachs also wants to support FTX in the event of an IPO of the trading platform, but Bankman-Fried is initially aiming for further private financing.


The FTX were able to increase their company value to 32 billion US dollars through three large financing rounds in the last few months. The last round in January put almost 400 million US dollars in investment capital into the crypto exchange's coffers, and this was even the smallest of the three rounds mentioned.


So, as the crypto exchange converges with the financial world, Goldman Sachs is taking the opposite step, because like many other giants on Wall Street, the investment bank has long been extremely critical of the crypto industry. In the meantime, this position has already rotated almost 180 degrees, as the meeting with the FTX shows.


Neither Goldman Sachs nor FTX have responded to Cointelegraph's request at press time.


The proposed collaboration comes at an interesting time, as FTX recently applied to the CFTC to allow the platform to settle its crypto futures entirely independently, eliminating the need for the traditional financial institutions that have been involved.

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