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America’s largest crypto exchange Coinbase has been revealed as the mystery firm that took out Wall Street’s first Bitcoin-backed loan from Goldman Sachs.Goldman Sachs has $2.5 trillion assets under management as of 2021.Bloomberg reported on Tuesday that the Bitcoin-backed loan issued by Goldman had been taken out by Coinbase as
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Lending and borrowing have become words that are associated with Bitcoin. This is the same with traditional finance where lending and borrowing remain a big part of the ecosystem. However, there has not been an intersection of these three. This has mostly stemmed from the distrust of traditional finance toward
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Goldman Sachs has offered its first Bitcoin- (BTC)-backed loan, in a major step forward for institutional cryptocurrency adoption on Wall Street. A spokeswoman from Goldman told Bloomberg that the multinational investment bank had lent cash collateralized by Bitcoin owned by the borrower for the first time in Goldman Sachs’ history. She added
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The global investment bank allowed a borrower to use the cryptocurrency as collateral for a cash loan. Original Source
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Goldman Sachs is reportedly pursuing an alliance with one of the top cryptocurrency exchanges FTX.The CEO of Goldman Sachs David Solomon reportedly met with Sam Bankman-Fried, the founder of FTX in a closed-door meeting in March to discuss various prospects of working together, reported the Financial Times.According to the report,
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Virtual-reality platforms are set to evolve rapidly into 2023, the bank’s analysts said. Original Source
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Crypto exchange FTX's founder, Sam Bankman-Fried, met Goldman Sachs CEO David Solomon to discuss potential collaborations between the two firms, the Financial Times reported Thursday. Source
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The investment bank also sees headwinds for Coinbase and Silvergate Capital to show up in first quarter results. Source
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Bitcoin has become more correlated with equity index returns in recent months, the bank’s analysts said. Source
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