Goldman Sachs is buying more crypto

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Markets & News

Revealed: the Alameda venture capital portfolio (5 minute read)As well as running a crypto exchange that didn’t exchange crypto and owning a hedge fund that didn’t hedge, Sam Bankman-Fried had a venture capital fund that didn’t venture its own capital. The VC division, in contrast to the rest of the FTX group, can now provide some insight into where some of the money went. Here’s where it went.

Goldman Sachs on hunt for bargain crypto firms after FTX fiasco (4 minute read)Goldman Sachs (GS.N) plans to spend tens of millions of dollars to buy or invest in crypto companies after the collapse of the FTX exchange hit valuations and dampened investor interest. FTX's implosion has heightened the need for more trustworthy, regulated cryptocurrency players, and big banks see an opportunity to pick up business, Mathew McDermott, Goldman's head of digital assets, told Reuters.

New FTX CEO Testimony ‘False,’ Bankman-Fried Says (3 minute read)Testimony from the new FTX chief executive John J Ray III is “false,” founder of the now-defunct crypto exchange Sam Bankman-Fried said in an interview with The Block. In a bankruptcy deposition made Nov. 17, restructuring specialist Ray berated poor record-keeping and untrustworthy financial information at FTX, which had filed for Chapter 11 bankruptcy in Delaware on Nov. 11. In an interview released Monday, Bankman-Fried referred to “statements that have been made, that have been put on legal record that I knew to be false.”

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Misc

Not Your Keys, Not Your Crypto — How To Store Your Tokens Securely (4 minute read)Following recent events in Web3, many investors are now looking for ways to secure their crypto. The recent collapse of platforms such as FTX and BlockFi meant that, sadly, many investors lost their crypto overnight. This led to over $20B being withdrawn from centralized exchanges between November 2nd and 13th, according to a report from CoinGecko. The old phrase “not your keys, not your coins” has been repeated across social media channels lately, which has driven many crypto holders to opt for non-custodial wallets.

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