Following reports this week that Goldman Sachs was abandoning plans to launch a cryptocurrency trading desk, the company’s CFO, Martin Chavez, has come out and lambasted the reports as fake news.You can’t believe everything you read in the mainstream media — especially, it would seem, if that news comes from Business Insider. The American financial and business news website reported this week that financial giant Goldman Sachs was dumping its plans for a cryptocurrency trading desk. As it turns out, that report was unfounded.
There Was Never a TimelineThose in the know have always been aware that Goldman Sachs had never provided an official timeline for when such an offering would be launched. Thus, it seems odd that a news outlet would report the project as canceled.
Clients Want ItIn fact, Goldman is apparently hard at work on a bitcoin derivative, with Chavez citing client demand. What do you think about Business Insider‘s fake news report? Let us know your thoughts in the comments below!
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