Monday, April 23, 2018

The Vampire Squid (Goldman Sachs) makes ready to try to become masters of the cryptocurrency universe

"Oh look!  The police have themselves an RV." - Die Hard

Similar to how JP Morgan's CEO Jamie Dimon tried to deceive the markets on what the bank thought of Bitcoin and other cryptocurrencies by vilifying them in public and buying them in private, Goldman Sachs' Lloyd Blankfein too was following in those same footsteps when he repeatedly tried to discount the asset class through the media.

But inevitably the truth always comes out and with Goldman's hiring of Justin Schmidt as their new head of their digital asset market desk, the Vampire Squid appears set to try to become the new masters of the Bitcoin universe.

Four months after we reported that Goldman Sachs is preparing to launch a cryptocurrency trading desk, an announcement which coincided with bitcoin trading near its all time highs just shy of $20,000, the bank announced that in its first official expansion to this (r)evolutionary new venture, Goldman has hired Justin Schmidt as head of digital asset markets to help it navigate client interest in trading bitcoin and other crypto assets, and to allow clients gain exposure to cryptocurrencies. 
Schmidt, 38, joined the securities division in New York as a VP and head of digital asset markets, said bank spokeswoman Tiffany Galvin-Cohen. He previously worked at quantitative trading firms Seven Eight Capital LLC and WorldQuant LLC and has computer science degrees from the Massachusetts Institute of Technology, according to his LinkedIn profile.- Zerohedge
Goldman already had exposure into cryptos as earlier this year they dipped their toes into the cryptocurrencies waters by having one of their partners (CIRCLE) enter into the sector as a cryptocurrency exchange.

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