Bitcoin (BTC) and gold are fast becoming the safe-haven assets of choice as new data predicts that advanced economies will shrink 35% in Q2. According to annualized figures from Goldman Sachs quoted by Bloomberg on April 14, the second quarter of 2020 will see the biggest three-month economic retraction in history. Goldman: Europe should print more money The scale of shrinkage will outpace the 2008 Global Financial Crisis, which previously held the record for the timeframe. In a note to clients, Goldman analyst Jan Hatzius noted that workers returning to employment still risked fuelling fresh coronavirus infections. Instead, he argued, …

An apocalyptic account of Goldman Sachs ‘investee call’ went viral on social media faster than the coronavirus — and now the investment bank wants to set the record straight. The story snowballed after first being reported in a Reddit post on March 15. It has since been shared countless times in Telegram and other social media. User ‘nottodaymonk’ posted that his friend had just “got off a Goldman Sachs Investee call where 1500 of their investee companies dialed in”. He listed several “takeaways” from the call, the most significant of which was a prediction of “global health and economic collapse” …

Despite ongoing bullish movement in crypto markets, Circle continues to sell off wings of its business. Circle, a Goldman Sachs-backed crypto startup that launched USD-pegged stablecoin USDC, has agreed to sell its digital asset investment app Circle Invest to Voyager Digital Canada, the operator of digital asset broker Voyager. Circle Invest customers to be moved to the Voyager Platform by the end of March 2020 As part of the acquisition, Voyager will be integrating features of Circle's new stablecoin platform service into the Voyager Platform, the company announced on Feb. 12. Voyager will also expand its client base to over …

Financial service powerhouse Goldman Sachs Group Inc. lost another one of its top brass on February 5 after two other executives expressed departure plans several days prior. Goldman Sachs partner Rana Yared plans to exit her position at Goldman Sachs for a VC outfit, a source told Bloomberg for a Feb. 5 article. During her time at Goldman, Yared played a major role in the financial giant’s crypto endeavors. Goldman in crypto Since 2017, the blockchain and crypto industry has seen an influx of traditional market entities in some capacity. In July 2019, a job post from Goldman Sachs hinted …

Women are still at risk of being excluded from jobs in fast-growing careers like blockchain and artificial intelligence (AI), a LinkedIn co-founder warned. Allen Blue, co-founder of major professional social network LinkedIn, has raised concerns about occupational inequality in industries like blockchain at the World Economic Forum annual meeting in Davos on Jan. 24. The executive delivered his remarks on the issue in an interview with Abu Dhabi-based news agency The National. The LinkedIn co-founder urged the global community to take measures to prevent the further extension of the gender gap in employment when it comes to jobs of the …

A Yale professor and Goldman Sachs veteran are planning to complete a new project of a blockchain-based Facebook rival in 2020. Returning control of data to users David Gelernter, a Yale’s professor of computer science and Mirror Worlds creator, and Rob Rosenthal, a 19-year veteran of Goldman Sachs, are collaborating on a new social network called Revolution Populi, Business Insider reports Oct. 22. Gelernter and Rosenthal are planning to ensure user privacy with blockchain technology, also providing maximum security and enabling decentralization. According to Gelernter and Rosenthal, the new social media platform will return control of personal data to individuals …

BlackRock and Goldman Sachs veteran Howard Surloff has joined major crypto wallet provider Blockchain.com as general counsel. Over 25 years in traditional finance After serving over 25 years in two of the world’s largest and most-respected financial institutions, Surloff will now be responsible for advancing Blockchain.com’s standard for legal, compliance and corporate governance within the crypto industry, the firm announced on Oct. 1. Prior to entering the crypto industry, Surloff worked at BlackRock for 12 years, the world’s largest exchange-traded fund provider, according to his LinkedIn page. At BlackRock, Surloff was long-serving deputy general counsel before he was appointed as …

In a note to customers, Goldman Sachs gave a bullish forecast for Bitcoin price. Shared on Twitter on Aug. 11, the note suggests a short-term target of $13,971. Bullish analysis based on Elliott Waves The target given is based on Elliott Wave Theory, which forecasts market trends by identifying extremes in investor psychology, along with price highs and lows. According to the analyst, Bitcoin will rebound from support around $11,094, leaving room for at least one leg higher towards $12,916 and $13,971. This could complete a V wave count from July, producing a short-term top or consolidation. The bigger picture …

Blockchain development company Truffle has unveiled plans to expand its fully managed developer suite to include support for the blockchain protocols Corda, Hyperledger Fabric and Tezos. Truffle founder and CEO Tim Coulter announced the company’s plans at TruffleCon 2019 — Truffle’s annual dev conference — on Microsoft’s campus in Redmond, Washington. Coulter commented on how he thinks these tools will pave the way for collaboration via interoperability, saying: “We are empowering developers to build enterprise-grade solutions on any network of their choosing, creating a path for future cross-network collaboration.” According to a press release shared with Cointelegraph, the Truffle Suite …

According to the Apple Card Customer agreement, users will not be permitted to buy cryptocurrencies using the company’s upcoming credit card service. Goldman Sachs published the agreement on July 2, according to a report by Reuters on the same day. As per the report, American tech giant Apple is releasing the Apple Card in partnership with investment banking company Goldman Sachs as part of a broader business plan to bring in more revenue through service offerings. According to the card’s customer agreement, cryptocurrency purchases fall under the heading of cash advances or cash-like transactions: “‘Cash Advance and Cash Equivalents’ means …

Raoul Pal, a former head of equities and equities derivatives at Goldman Sachs UK office and the founder of Global Macro Investors and Real Vision Group, believes that Bitcoin (BTC) is worth betting on in the long term — even if it’s just a 1% chance. This and other insights Pal shared while speaking on the Stephen Livera podcast this week. Pal said: “I know all these macro guys, they’re all in it. They get it. They get the optionality. They may be complete believers, part believers, partial believers. But even then, if it’s a 1% chance of being right …

A new job listing from investment banking giant Goldman Sachs reveals apparent intentions to pursue digital asset development at an unprecedented pace. The listing, now live, seeks a Digital Asset Project Manager under the aegis of the bank’s GS Accelerate in-house incubator program. In a summary of the role, the bank indicates that the future hire will be expected to “develop comprehensive road maps for distributed ledger technology (DLT) development,” “foster a deep understanding of relevant products, technology, and markets,” and “maintain and iterate a complex project planning document with multiple stakeholders.” While few details of the Digital Asset project …