Following the collapse of the FTX exchange, which lowered valuations and dampened investor interest, Goldman Sachs plans to spend tens of millions of dollars to buy or invest in crypto companies. The Implosion of FTX has increased the demand for more trustworthy, regulated cryptocurrency players, and big banks see an opportunity to pick up business, according to Mathew McDermott, Goldman’s head of digital assets. Goldman is conducting due diligence on a number of different cryptocurrency firms, he added, without providing further details. “We do see some really interesting opportunities that are priced much more sensibly,” McDermott said last month in an interview. Following its dramatic collapse, FTX filed for Chapter 11 bankruptcy protection in the United States on November 11, sparking fears of contagion and amplifying calls for more crypto regulation.
