“It’s critical for major clearing firms like Goldman to be prepared.”
And when “presented” with that opportunity in an environment where trading revenues are drying up, you can bet the whales and squids are going to come knocking demanding their “fair” share of the action.
Not to put too fine a point on it, but this gets more insane literally by the minute.
Draw your own conclusions.
“One of the main uses of Bitcoin is as a vehicle to perpetrate fraud.”
Submitted for your approval…
“An understanding of the physical nature of Bitcoin allows us to revisit our previous analysis of the physical characteristics of precious metals, comparing and contrasting them with cryptocurrencies.”
“Still thinking about #Bitcoin.”
“In response to client interest in digital currencies we are exploring how best to serve them in this space.”
But here’s the thing. I’ve got to tell you that I don’t think I have ever witnessed anything that is as absurd/insane as the cryptocurrency mania.
And there you go. Another way for cryptocurrencies to morph into a systemic risk…
The “revolution” has seen better days.
…what we wanted to point out are the multiple layers of irony here.
That’s some rough shit right there, and it underscores just how dire the situation had become when the bank embarked on an effort to turn things around after an abysmal Q2 performance.