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 Timeline
Those 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 It
In 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!
Images courtesy of Shutterstock.