Former Trump Economic Advisor and Goldman Sachs President Gary Cohn Warns Bit...

Former Trump Economic Advisor and Goldman Sachs President Gary Cohn Warns Bit...

A former top economic advisor to President Donald Trump and president of Goldman Sachs has shared his view about bitcoin. He claims that the cryptocurrency “lacks some of the basic integrity of a real market,” warning that it “may fail.” Gary Cohn Thinks Bitcoin May Fail Former White House chief economic advisor Gary Cohn said in an interview with Bloomberg’s Emily Chang, published Monday, that bitcoin “may fail.” Cohn served as president and chief operating officer of Goldman Sachs for 26 years. He left the firm in 2016 to become President Donald....


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Bitcoin lacks market integrity, says former Trump economic adviser

“For all the reasons it’s a strong developing asset class, it may fail,” said the former Goldman Sachs president. Gary Cohn, the former president of Goldman Sachs and former chief economic adviser to Donald Trump, believes that Bitcoin may not hold long-term prospects for investors. In an interview with Bloomberg released today, Cohn said that the crypto asset “lacks some of the basic integrity of a real market” due to its lack of transparency. He said that investors might question a system “that does not have an audit trail.”“For all the reasons it’s a strong developing asset class, it....

Goldman Sachs To Cut Jobs In Asia While Bitcoin Thrives

As far as the official explanation for this round of job cuts goes, Goldman Sachs blames the harsh environment since the financial crisis. Our society is going through some very difficult economic times right now. Banks and financial institutions are axing jobs left and right. Goldman Sachs will cut nearly 30% of their Asian investment jobs over the next few years. Slow growth, and the emergence of alternative finance are two driving factors for this decision. Interestingly enough, the majority of jobs will be cut in regions where Bitcoin is thriving. Goldman Sachs Struggles In Asia. The....

Goldman Sachs Launches Bitcoin Derivatives Trading as ‘Institutional Demand C...

Investment bank Goldman Sachs has reportedly begun offering a bitcoin investment product to clients. The firm has opened up trading with non-deliverable forwards, a bitcoin derivatives product. To hedge against the cryptocurrency’s volatility, Goldman Sachs will trade bitcoin futures on CME Group. Goldman Sachs Begins Offering Bitcoin Product to Clients Investment bank Goldman Sachs “has opened up trading with non-deliverable forwards, a derivative tied to bitcoin’s price that pays out in cash,” Bloomberg reported Thursday. The firm is protecting itself from....

Goldman Sachs to Settle Massive Corruption Case for $2.8 Billion With US Gove...

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Goldman Sachs Doubts Bitcoin as Store of Value Citing Environmental Problems ...

Global investment bank Goldman Sachs is questioning whether bitcoin can be a long-term store of value and digital gold. The firm’s analysts cited various issues with the cryptocurrency, such as environmental problems, “lack of real use,” and competition from other cryptocurrencies. Goldman Sachs Sees Problems With Bitcoin as Long-Term Store of Value Goldman Sachs published a note outlining some problems with bitcoin as digital gold on Wednesday. The firm’s analysts, led by its top commodities strategist Jeffrey Currie, have voiced concerns about whether the....