Knowing that it’s a heightened risk, Goldman Sachs is about to set up its Bitcoin Trading operation. View Nathaniel Popper’s report here.
“SAN FRANCISCO — Most big banks have tried to stay far away from the scandal-tainted virtual currency Bitcoin.
But Goldman Sachs, perhaps the most storied name in finance, is bucking the risks and moving ahead with plans to set up what appears to be the first Bitcoin trading operation at a Wall Street bank.
In a step that is likely to lend legitimacy to virtual currencies — and create new concerns for Goldman — the bank is about to begin using its own money to trade with clients in a variety of contracts linked to the price of Bitcoin.”
Continue reading here: NYTimes.com
Photo credit: The New York Times, found on NYTimes.com