Goldman Sachs Names Crypto Trader Justin Schmidt Head Of Digital Assets

Goldman Sachs Group Inc. has made its first crypto-specific appointment with Justin Schmidt, a former cryptocurrency trader, as the financial services giant aims to explore creating a bitcoin trading desk, reports said.

The bank spokeswoman Tiffany Galvin-Cohen was quoted as saying Schmidt joined the bank as a vice president and head of digital asset markets in the firm’s securities division in New York on April 16.

The bank’s move is expected to help its clients gain exposure to cryptocurrencies. Creating a crypto desk by Goldman Sachs could be a first by any major US bank.

Goldman Sachs was one of the few major financial firms to clear Bitcoin futures offered by Cboe Global Markets Inc. and CME Group Inc when it was launched in December. The bank was getting ready to launch a crypto desk by the end of June.

Schmidt, who is a computer science graduate from the Massachusetts Institute of Technology, previously worked at quantitative trading firms Seven Eight Capital LLC and WorldQuant LLC.

by RTTNews Staff Writer

Source: Read Full Article