Goldman CFO: the story about us dropping Bitcoin trading was ‘fake news’
As Chavez described it, Goldman Sachs had been building a Bitcoin trading platform modelled on a commodities futures trading platform, where there is never any Bitcoin traded, but more the promise of how the currency might move.“Our institutional clients said, ‘We would love for you to clear these new Bitcoin-linked futures contracts offered by the exchanges,’ so we’ve been doing that, and then clients since May [started to ask], ‘We would like for you also to provide us liquidity and trade the principal as principal the futures contracts, not just clear them,’ and so we’ve been doing that, the next stage of the exploration, what we call ‘non-deliverable forwards.’