Goldman Sachs’ partnership with Galaxy Digital: Can it lower bitcoin’s volatility?

In this blog, we curate relevant and remarkable content related to digital banking, fintech and high-performance banking leaders. This piece by CNBC reports that as more banks allow clients to trade bitcoin, the depth and breadth of the market improves, which ultimately should lower bitcoin’s famous volatility, according to Galaxy Digital co-president Damien Vanderwilt. Read on.

“Goldman Sachs’ efforts to help hedge funds and other big institutional clients wager on bitcoin have taken a step forward.

The bank has begun trading bitcoin futures with Galaxy Digital, the crypto merchant bank founded by Mike Novogratz, CNBC has learned.

The trades represent the first time that Goldman has used a digital assets firm as a counterparty since the investment bank set up its cryptocurrency desk last month, according to Galaxy co-president Damien Vanderwilt.”

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