Goldman Sachs Seeks to Build Closer Ties With FTX Crypto Exchange

Key Takeaways

  • Goldman to advise FTX on its retail trading application. 
  • Both the firms will also join hands to discuss other significant changes to happen in FTX. 

Goldman Sachs CEO, David Solomon and FTX crypto exchange Chief, Sam Bankman-Fried have been in talks since March looking for opportunities to collaborate. On April 21, 2022, Financial Times reported that the former is willing to help the latter with several matters including strategies to stay within the US regulations. 

FTX has plans to offer retail trading of crypto derivatives and its application regarding the same was a topic of discussion at a Congressional hearing after the firm applied with the Commodity Futures Trading Commission (CFTC) in March. 

Solomon is seeking help from Goldman regarding dialogue with the CFTC, including other things like funding in the future, and a probable public offering for FTX. The former also accounted for suggestions to Singapore Business Federation (SBF) which were also in line with Goldman’s effort to grow in the crypto space. 

Shreya Bhattacharya
Shreya Bhattacharya

A journalist & writer exploring new topics every day!

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