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Goldman Sachs ramps up trading in partnership with Mike Novogratz’ Galaxy Digital

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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.

The moves by Goldman, the preeminent global investment bank, may reverberate on Wall Street and beyond as banks increasingly face pressure from clients who want exposure to bitcoin. By being the first major U.S. bank to…



Source cnbc.com

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