{
}
At Davos 2025, Barclays CEO CS Venkatakrishnan urged patience for the new Labour government, emphasizing the UK's potential and the need for time to implement policies. Meanwhile, Lloyds CEO Charlie Nunn called for the government to accelerate its plans to boost competitiveness and growth amid concerns over a £40 billion tax-raising budget that could lead to job losses and inflation. Business leaders expressed mixed feelings, with some supporting the government's proactive approach while others warned of the economic impact of recent tax increases.
Goldman Sachs CEO David Solomon stated that the bank will not engage in cryptocurrency trading until U.S. regulations change. He emphasized that as a regulated institution, they cannot own cryptocurrencies like Bitcoin as a principal, although they continue to advise clients on related technologies. This comes amid rising interest in crypto products, highlighted by BlackRock's Bitcoin ETF surpassing its gold counterpart.
President-elect Donald Trump, after ringing the opening bell at the New York Stock Exchange, refrained from making stock market predictions, citing the potential for a market dip. He emphasized plans to cut taxes further, aiming to incentivize domestic production, while expressing a long-term bullish outlook for the U.S. economy. Wall Street leaders echoed his sentiments, linking business success to broader economic growth and job creation.
Bitcoin (BTC) surged over 4% to reclaim $100,000, driven by positive inflation data, while Ethereum (ETH) approached $4,000 with a 7% increase. Other cryptocurrencies like Solana (SOL) and Ripple (XRP) also saw significant gains, contributing to a nearly 6% rise in the overall crypto market cap to $3.65 trillion. Despite this recovery, US bankers remain cautious about the volatile crypto landscape, emphasizing the need for a clearer regulatory framework.
US bankers remain cautious about cryptocurrencies despite a pro-crypto administration under President-elect Trump. Executives from major banks, including Goldman Sachs and Bank of New York Mellon, emphasize the need for a clearer regulatory framework and appropriate safeguards before engaging with volatile assets. Past crypto crises, such as the FTX collapse, have heightened their skepticism, with client demand for crypto still limited.
Goldman Sachs CEO David Solomon indicated the bank may explore cryptocurrency trading if US regulations allow, despite currently holding over $700M in Bitcoin ETFs. Meanwhile, Ripple's $RLUSD stablecoin has received approval to launch, and Best Wallet aims to capture 40% of the crypto wallet market by 2026, leveraging its non-custodial model and advanced security technology. Investors have a limited time to purchase the $BEST token before a price increase.
Goldman Sachs CEO David Solomon stated that the investment bank is prepared to engage with cryptocurrencies like Bitcoin and Ethereum, contingent on favorable regulatory changes under President Trump. Currently, the bank's ability to operate in the crypto market is limited, although it holds approximately $718 million in Bitcoin ETFs, including a $461 million investment in BlackRock’s Bitcoin ETF. With Trump’s administration promising a more crypto-friendly approach, the SEC is expected to adopt a supportive stance towards digital assets.
Goldman Sachs CEO David Solomon indicated the bank's openness to entering the cryptocurrency market for Bitcoin and Ethereum trading, contingent on changes in U.S. regulations. He acknowledged the current regulatory constraints and described Bitcoin as a speculative asset, while noting growing interest from hedge fund clients, particularly in anticipation of SEC approvals for Ethereum ETFs. As Bitcoin prices soar, the evolving regulatory landscape may accelerate institutional adoption of crypto assets.
Goldman Sachs CEO David Solomon indicated the firm is open to engaging in Bitcoin and Ethereum, contingent on changes in regulatory frameworks. While the bank has developed infrastructure for digital assets and offers consultancy services, legal constraints currently prevent direct trading. Solomon noted that a favorable regulatory environment could prompt the firm to expand its involvement in the cryptocurrency market.
Goldman Sachs is poised to enter the cryptocurrency market, particularly Bitcoin and Ethereum, if US regulations become more favorable, according to CEO David Solomon. As Bitcoin reached $100,000, the firm holds approximately $710 million in Bitcoin ETFs and is actively developing blockchain solutions for institutional clients. Despite regulatory challenges, Solomon remains optimistic about future growth opportunities in the digital asset space.
David M. Solomon
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
business leaders urge patience for new uk government's economic plans
British Pound Sterling
UWS JP Morgan EM A OSB
The Goldman Sachs Group, Inc.
Standard Chartered PLC
Barclays PLC
GBR
C. S. Venkatakrishnan
Jonathan Reynolds
Rachel Reeves
Jamie Dimon
Jo Taylor
David M. Solomon
Charlie Nunn
Varun Chandra
Bill Winters
Show more
11:15 21.01.2025
goldman sachs ceo calls for regulatory changes before entering crypto market
United States Dollar
The Goldman Sachs Group, Inc.
BlackRock, Inc.
USA
Donald Trump
David M. Solomon
Paul Atkins
Scott Bessent
Show more
18:55 12.12.2024
Trump avoids stock market predictions while promoting tax cuts at NYSE
United States Dollar
The Goldman Sachs Group, Inc.
Pershing Square Holdings, Ltd.
USA
Donald Trump
Jim Cramer
David M. Solomon
Yundi Li
Bill Ackman
Show more
16:29 12.12.2024
crypto markets rebound as bitcoin surpasses 100000 amid cautious banker sentiment
Coinbase Global, Inc.
MicroStrategy Inc
The Goldman Sachs Group, Inc.
Donald Trump
Gary Gensler
David M. Solomon
Paul Atkins
Show more
11:00 12.12.2024
us bankers remain cautious on cryptocurrencies despite pro crypto administration
Bank of New York Mellon Corp
Bank of America Corporation
The Goldman Sachs Group, Inc.
USA
Robin Vince
Matt Gellene
Paul Atkins
David O. Sacks
David M. Solomon
Show more
06:51 12.12.2024
Goldman Sachs explores cryptocurrency trading as Best Wallet eyes market expansion
United States Dollar
The Goldman Sachs Group, Inc.
USA
Donald Trump
Gary Gensler
David M. Solomon
Brad Garlinghouse
Show more
14:37 11.12.2024
Goldman Sachs seeks regulatory changes to invest in Bitcoin and Ethereum
United States Dollar
The Goldman Sachs Group, Inc.
BlackRock, Inc.
USA
Donald Trump
David M. Solomon
Paul Atkins
Show more
09:22 11.12.2024
Goldman Sachs considers crypto trading as regulatory landscape evolves
09:08 11.12.2024
Goldman Sachs CEO discusses potential cryptocurrency expansion amid regulatory changes
22:08 10.12.2024
Goldman Sachs considers crypto investment as regulations evolve in the US
21:24 10.12.2024
Trending
Subcategory
Corporate News
Industry Trends
Stock Market Updates
Industry Mergers & Acquisitions
Workplace Trends
Global Financial Events
Banking Regulations
Retail and Consumer Goods
Finance Mergers & Acquisitions
CEO Changes
Market Analysis and Predictions
Government Policies
Startups & Entrepreneurship
Global Trade Developments
Financial Scams and Security
Private Equity Deals
Central Bank Actions
Supply Chain Management
Government Economic Policies
Domestic Politics
Countries:
Companies:
JPMorgan Chase & Co.
Tesla, Inc.
Barclays PLC
Credit Suisse Lux Digital Healt
Bank of America Corporation
Deutsche Bank Money Market PP
UBS Group AG
BNP Paribas SA
Wells Fargo & Company
The Goldman Sachs Group, Inc.
Apple Inc.
Commerzbank AG
Banco Santander, S.A.
UniCredit S.p.A.
Amazon.com, Inc.
Danske Bank A/S
NVIDIA Corporation
SpaceXCoin USD
HSBC Holdings plc
HSBC HOLDINGS
Currencies:
United States Dollar
Euro
British Pound Sterling
Chinese Yuan
Swiss Franc
Indian Rupee
Japanese Yen
Danish Krone
Hong Kong Dollar
Australian Dollar
South Korean Won
Singapore Dollar
Russian Ruble
Offshore Chinese Yuan
Canadian Dollar
Mexican Peso
Indonesian Rupiah
Turkish Lira
Chilean Peso
United Arab Emirates Dirham
People: