#goldman sachs

Goldman Sachs CEO David Solomon has stated that the company might explore BTC and ETH spot trading if regulatory conditions in the U.S. improve.

Goldman Sachs' asset management investment chief, Sharmin Mossavar-Rahmani, revealed the bank's decision against introducing crypto services, attributing this to client disinterest and the challenge of assessing Bitcoin's genuine value.

Goldman Sachs, a leading investment firm in the United States, has revised its forecast for the U.S. interest rate in 2024, as reported by Reuters.

Raoul Pal, once at the helm of Goldman Sachs, envisions a steep rise in the global count of cryptocurrency users. He drew parallels between the initial decade of digital assets and internet evolution, leading to the conclusion that the tally of cryptocurrency enthusiasts could hit the 1.2 billion mark by the end of 2025. His projections suggest this number could catapult to a staggering 5.1 billion by 2030. The key drivers in achieving such an extensive digital asset adoption, he believes, will be Central Bank Digital Currencies (CBDCs) and NFTs.

Michael Busella and Steve Lee, with storied careers at Goldman Sachs and BlockTower, introduce Neoclassic Capital, an investment company targeting the digital asset landscape. Their strategic focus spans tokenization to gaming and social networks, covering a broad spectrum from emerging startups to established public firms.

Financial powerhouses including Goldman Sachs, BNY Mellon, Paxos, and others have concluded their testing phase of the blockchain Canton Network, engineered by Bluechip Digital Asset. The initiative brought together 15 asset management companies, 13 banks, four depositary institutions, and three exchanges in its pilot phase.

Their economists anticipate a reduction in interest rates by late June next year, following a gradual quarterly decrease pattern. “The cuts in our forecast are driven by the desire to normalize the funds rate from a restrictive level once inflation is closer to the target,” says Jan Hatzius, a senior economist at Goldman. Goldman forecasts rate cuts in Q2 2024, expecting 25 basis point reductions per quarter with pace uncertainties. “We expect the funds rate to eventually stabilize at 3-3.25%,” say their economists.

The Stellar Development Foundation has announced that it joins an advisory committee of the U.S. Commodity Futures Trading Commission. Blockchain company Stellar will join representatives of traditional financial markets such as J.P. Morgan, Goldman Sachs, and BlackRock and get a say in institutional-level issues. SDF representatives noted that they will primarily focus on the use of Layer 1 protocols in government agencies and bank transfers in stablecoins.