Goldman Sachs rumors to stop the Bitcoin Trading Desk are "fake news"

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"I never thought I'd hear myself actually use this term, but I'd really have to describe that as fake news", he said. However, Chavez said yesterday at the TechCrunch Disrupt Conference in San Francisco that the rumours were unfounded.

Wall Street Isn't Ready for Crypto Yet " When we talked about exploring digital assets that it was going to be exploration that would be evolving over time...

He continued to say that they will be settled in US dollars and that the reference price would be the Bitcoin-US dollar price, which will be established by a set of exchanges.

Back on? Never off? Earlier today, Goldman Sachs called that report "fake news" and insisted that its still working on releasing crypto investment products in the future.

Ultimately, Goldman Sachs are interested in having an institutional grade custodial solution in the long run.

CNBC have created a cautious approach from crypto investors as they continue to post contra-indications as well as unreliable news related to the industry.

Get blockchain news and crypto insights. Although Martin wanted to own them, he was a little skeptical about it. Over the past few months, reports have made headlines indicating that the investment company was considering opening a cryptocurrency trading desk that would allow people to buy and sell various virtual currencies.

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This is despite warnings of a bubble and many not truly understanding how the digital currencies work or how they fluctuate. But there was little news since on how the project has developed.

According to Bloomberg's report, the South Korean post service isn't planning on investing in cryptocurrencies. Coinbase had previously announced a partnership with Electronic Transaction Clearing, an American broker-dealer which is Securities and Exchange Commission (SEC) qualified securities custodian. Institutional investors will require a great deal of convincing in order to trust in crypto startups.

Following a yearly low point on August 14, crypto markets had started to recover; only to have all of this wiped out in one bearish swoop, dumping billions out of digital assets.

All major coins are rangebound and it is possible that the harm done by the fake news won't be recovered quickly.

On Friday morning, the BTC adds about a percent and trades above $ 6,500, altcoins are also moderately in the green zone.

Goldman Sachs not backing away from Bitcoin, but rather preparing the ground for physical storage and settlement later down the line.

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