Hey guys,
So I just came across this and wanted to share this. It's basically saying that the investment banking giant, Goldman Sachs has hired a former crypto trader to explore the opportunities in crypto and possibly to create a trading desk.
As most people would know that 2008 could be argued as the year that "ended" investment banking...i.e. it is no as popular as back in the 80/90/early 2000s. I started investment banking myself back in 2007 and experienced 2008 and finally left the industry at the end of 2011. Bonuses are no longer as "huge" as in the past, a lot less common to do very long hours (as banks just can't pay those crazy salaries/bonuses anymore (this is overall rather than every single job in the market). Since 2008 a lot of banks have been complying to new tougher regulations and turn their businesses profitable again (some have collapsed on the way, some are just about surviving and only a few are doing "ok". So could this cryptocurrency trading, if it happens, become a new profitable business stream for banks? I'd say possibly, but given that banks are under a lot more scrutiny nowadays and that cryptos are known for its high volatility I'd say that it'll have a lot of obstacles to get past before it becomes one of the bigger money making businesses for banks. But I surely think that banks would like to explore that area. Lets see what happens!
Hope you enjoyed this. As per usual this IS NOT trading advice. Thanks
http://uk.businessinsider.com/goldman-sachs-bitcoin-trading-desk-new-hire-2018-4?r=US&IR=T