Sentiment from the head of a Wall Street giant signals good news for the cryptocurrency economy. Goldman Sachs CEO David Solomon has said that the investment banking major would evaluate trading cryptocurrencies should US regulations permit the bank to do so.
“At the moment, as a regulated banking institution, we’re not allowed to own a cryptocurrency like Bitcoin as a principal,” he said at a Reuters Next conference, held on Tuesday, 10 December.
“We give our clients advice around a variety of these technologies and these issues, and will continue to do that. But for the moment our ability to act in these markets is extremely limited from a regulatory perspective.”
Interestingly, Goldman Sachs disclosed in its recent US Securities and Exchange Commission (SEC) 13F filing that the company holds more than $700M in eight Bitcoin ETFs, as of September 20, 2024.
So, it would appear that at long last, corporate attitudes to crypto are finally changing. Even US President-elect Donald Trump has positioned himself as a champion of cryptocurrency. The launch of a strategic national crypto stockpile was among the promises made by Trump in the run-up to the 2024 election. Removing Gary Gensler – the nemesis of crypto companies due to his aggressive approach to crypto regulation – from his position as SEC Chairman was another.
A Green Light for Ripple’s Stablecoin Means Meme Coins Pump
The big news for the cryptocurrency economy keeps on rolling, as Ripple CEO Brad Garlinghouse recently announced that its $RLUSD stablecoin has been approved by the New York Department of Financial Services to go live. Pegged to the US dollar at a 1:1 ratio, $RLUSD will be supported by a combination of US dollar reserves, short-term US Treasury securities, and other liquid assets, mirroring Tether’s approach to backing. $RLUSD is set to be launched on the XRP ledger in Ethereum.
In all, the latest developments are great news for the economy, cryptocurrency holders, and the likes of Best Wallet. Powered by Best Wallet’s $BEST token – currently in presale with an impressive $3.34M already raised – Best Wallet plans to capture 40% of the crypto wallet market share by end-2026.
Best Wallet is mobile-first, fully non-custodial app supports thousands of cryptocurrencies, including the best meme coins, across 50 major blockchains. But it’s that non-custodial aspect that sets Best Wallet apart.
Most crypto wallets are controlled by…
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