Mike Novogratz, ex-Goldman Sachs partner and founder of Galaxy Digital, has said that he expects cryptocurrency to “flip next year” in an interview published by Financial Times (FT) Nov. 23. During the interview, Novogratz said that “this year has been challenging” for Galaxy Digital – a company that he hopes will become “the Goldman Sachs of crypto” – adding that “it sucks to build a business in a bear market.” According to FT, Novogratz predicted that financial institutions will transition from “investing in cryptocurrency funds to investing in cryptocurrencies proper in the first quarter of next year.” As FT reports, …

Forex exchange (FX) settlement giant CLS will launch its IBM blockchain-powered netting service within “a matter of days,” according to Chief Strategy Officer (CSO) Alan Manquard. The CSO made the announcement at the IBM Think Tank conference in London Nov. 14, as reported by tech news source Computer Business Review (CBR). CLS Group, which reportedly settles on average $5 trillion in payment instructions daily, is a U.S. FX settlement service supplier with high-profile members that include Goldman Sachs, JPMorgan, Barclays, and Citigroup. A netting service entails offsetting and determining the value of multiple positions or payments that are due to …

U.S. banking giant Goldman Sachs and its former partner Mike Novogratz, now CEO of crypto investment firm Galaxy Digital, have recently invested in U.S. crypto custody service BitGo, Bloomberg reports Wednesday, Oct. 18. In total, BitGo's series B fund rounding has brought in $58.5 million. According to Bloomberg, Goldman Sachs and Novogratz together contributed about $15 million, as their clients show growing interest in cryptocurrencies. Bloomberg notes that BitGo managed to raise a total of $70 million in all of its fundraising rounds. The significant investment from two firms affiliated with Wall Street might help BitGo attract more wealthy investors …

Thursday, September 27: crypto markets continue to rise as the crypto and blockchain industry is seeing some support from governmental and institutional entities. Following a sell-off that started on September 24, crypto markets are seeing the second day of a rebound, with daily trade volume now amounting to more than $16 billion. All but two top 20 cryptocurrencies by market capitalization have seen firm growth over the past 24 hours, following a slight price stagnation within the day and surging sharply within the past few hours. Market visualization from Coin360 Bitcoin (BTC) is up around 2.82 percent over 24 hours …

U.S.-based banking giant Goldman Sachs has led a $25 million strategic funding round for blockchain payments startup Veem, with participation also confirmed to Cointelegraph from Silicon Valley Bank on September 27. Veem, which utilizes digital ledger technology to increase the efficiency of small business payments, noted in their press release that the funding round also received participation from GV (formerly Google Ventures), Trend Forward Capital, Extol Capital, Kleiner Perkins, and Pantera Capital, among others investors. Forbes notes that Goldman Sachs invested through its Principal Strategic Investment Group, and that Rana Yared, a Goldman Sachs managing directors, will sit on Veem’s …

Cryptocurrency markets are feeling the pressure from an extended downturn on Wednesday, September 12, with Bitcoin (BTC) losing 2.5 percent and Ethereum (ETH) hitting its lowest levels since May 2017. Data from Cointelegraph’s price tracker and Coin360 confirms the lackluster picture across cryptoassets continuing another day, with all of the top twenty coins — with the exception of Dogecoin (DOGE) — in the red. Market visualization from Coin360 Bitcoin had climbed to almost $7,400 last week before turmoil hit markets again, prices tumbling over claims Goldman Sachs had shelved its crypto trading plans, something officials have since dismissed as “fake …

Coming every Sunday, the Hodler’s Digest will help you to track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions, and much more — a week on Cointelegraph in one link. Top Stories This Week Business Insider: Goldman Sachs Scraps Crypto Trading Desk Plans Goldman Sachs Group Inc. is halting its plans to open a cryptocurrency trading desk, Business Insider reported this week, but will focus on a custody product for crypto, which will allow it to hold cryptocurrency on behalf of large clients and track its price. …

Friday, September 7: after the midweek bloodbath, crypto markets have slightly stabilized today, although many coins continue to shed value, as Coin360 data shows. Market visualization from Coin360 Bitcoin (BTC) is trading at around $6,430 at press time, down just under one percent on the day, according to Cointelegraph’s Bitcoin Price Index. Despite a bullish start to September, Bitcoin’s price decline set in this Wednesday, September 5. Since then, the leading cryptocurrency has spiralled downwards from a high of $7,391 to over $1,000 less at its intraday low today at $6,354. The coin is now a stark 16 percent down …

Over the past two days, the valuation of the cryptocurrency market has plunged to $201 billion as Bitcoin lost 13 percent, moving closer to its yearly low at $192 billion. Since Sept. 6 when the price of Bitcoin dropped by more than 10 percent within a one-hour period, the cryptocurrency market has been on a continuous decline. Tokens bled out more intensely than they previously did in April and June, losing out 10 to 30 percent against Bitcoin. Source: coin360.io Cointelegraph interviewed ThinkMarkets chief market analyst and former Bank of America trader Naeem Aslam, eToro senior market analyst Mati Greenspan, …

Goldman Sachs Chief Financial Officer (CFO) Martin Chavez said that recent reports about the company abandoning its plans to open a cryptocurrency trading desk are “fake news,” CNBC reported September 6. At the TechCrunch Disrupt Conference in San Francisco, Chavez reportedly said that reports about the company’s intentions for a crypto trading desk were unfounded: "I never thought I would hear myself use this term but I really have to describe that news as fake news." Rumors that Goldman Sachs planned to establish a crypto-focused unit by the end of 2018 were initially reported by Bloomberg in December last year. …

South Korea’s national postal service Korea Post (KP) will meet with Goldman Sachs executives to gain “know-how” about cryptocurrencies, Bloomberg reported Wednesday, September 5. The service, which oversees an investment fund of $112 billion, said a meeting about crypto had already taken place with Goldman’s incoming chief executive, David Solomon, in New York. Speaking to the Bloomberg in an interview, the post service’s president Kang Seong-ju confirmed that KP officials would also travel to Hong Kong to meet with Goldman’s dedicated cryptocurrency team there, which the banking giant set up earlier this year. “I asked Goldman to pass on their …

Financial clearing and execution company Apex Clearing confirmed it planned to open a dedicated cryptocurrency entity in a press release Wednesday, September 5. Apex, which has operated since 2012, will create Apex Crypto to give existing clients access to various cryptocurrencies, initially including Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), and Litecoin (LTC) among others. Investing platforms such as broker dealers using Apex will thus be able to provide cryptocurrency investment opportunities to their own users, the press release notes. The move, CEO Bill Capuzzi says, reflected the “continued surge” in demand for crypto-based investment options. Capuzzi added: “We are …