Goldman Sachs to invest in crypto companies after FTX collapse ‎

Goldman Sachs plans to spend tens of millions of dollars to buy or invest in crypto companies after the collapse of cryptocurrency exchange FTX sapped valuations and sapped investor interest.

According to “Reuters”, Matthew McDermott, head of digital assets at Goldman, said that the collapse of FTX has led to an increase in the need for trustworthy and regulated companies in the field of digital currencies, adding that large banks see an opportunity to seize this business. ,

He added that Goldman conducts technical due diligence assessments for a number of crypto companies, but did not give any details

“We see some really interesting opportunities at more reasonable prices,” McDermott said in an interview last month.

FTX filed for Chapter 11 bankruptcy protection from creditors in the United States on November 11 after its dramatic collapse, raising fears of contagion and increasing calls for more regulation of cryptocurrency trading.

Although the amount that Goldman can invest is not large for the Wall Street giant, who recorded profits of $ 21.6 billion last year, his desire to continue investing despite the sector’s setbacks indicates that he sees opportunities in the long term.