Financial services firm Goldman Sachs is considering diving into the industry at this time when the value of crypto companies is impacted by FTX events. Goldman Sachs is considering acquiring these companies or investing millions of dollars.
Mathew McDermott, executive director of Goldman Sachs, Reuters He said during an interview with FTX that the collapse of FTX revealed the need for regulation in the industry, while big banks saw opportunities in the crypto space.
The executive explained that Goldman is currently seeing “more reasonably priced” deals and has already begun to drill down on some crypto companies.
Commenting on the FTX events, McDermott stated that the market faced many setbacks in terms of sensitivity. On the other hand, the executive in the traditional financial industry said that even though FTX has become the epitome of failure in the crypto industry, the technology behind the industry remains active.
FTX’s liquidation and bankruptcy crisis has wreaked havoc on the crypto industry since early November. The domino effect of the collapse of FTX continues and continues to affect crypto-focused companies associated with the stock market. Institutional investors like Goldman are also looking for opportunities to buy or invest at low prices.