Goldman Sachs Keen On Joining FTX IPO As Crypto Interest Grows

Goldman Sachs is reportedly interested in working with crypto exchange FTX on an upcoming initial public offering (IPO).
By Varinder Singh
Updated July 1, 2022
FTX & Alameda Wallets Dump $24M ETH To Coinbase Ahead Of Ethereum Crash

Goldman Sachs, an investment banking giant, is reportedly interested in working with crypto exchange FTX on an upcoming initial public offering (IPO).

Recently, the investment banking giant’s CEO David Solomon and  FTX founder Sam Bankman-Fried discussed public listing prospects, regulatory challenges, and fundraising in a recent meeting.

Advertisement
Advertisement

Goldman Sachs Plans To Expand Into Crypto With FTX

One of the largest investment banks in the United States, Goldman Sachs is actively looking to expand into crypto. The investment bank is currently in talks with  FTX over a possible IPO,  The Financial Times reported on April 21.

During the meeting with Sam Bankman-Fried, David Solomon agreed to help and advise FTX on future  challenges with regulators, especially the Commodity Futures Trading Commission, as it seeks to expand services in the U.S. Moreover, in March, FTX filed with CFTC to offer leveraged crypto derivatives.

Goldman Sachs will also be helping FTX in funding rounds in the future. FTX is currently valued at $32 billion after January’s $400 million Series C funding round.

The two executives also discussed Goldman Sachs’ participation in a possible IPO of FTX. The investment bank had participated in Coinbase’s 2021 IPO- the biggest crypto listing yet in the United States.

Furthermore, Goldman Sachs is actively looking for a collaboration with FTX on crypto market making as the investment bank grows its presence in the digital assets market. The bank has already flagged interest from institutional clients in crypto trading, and also plans to begin offering more tailored crypto products.

Advertisement
Advertisement

Crypto Exchanges Seek Public Listing in the U.S.

Crypto companies are actively seeking to expand into the U.S. as crypto adoption grows in the country. However, due to stringent regulatory challenges, Coinbase is the only publicly listed crypto exchange company in the country.

The strict regulatory hurdles and political pressure is limiting crypto exchanges such as Binance, FTX, and Blockchain.com to listing in the U.S. Recently, Blockchain.com announced plans of launching an IPO in 2022 or 2023 starting. FTX’s founder Sam Bankman-Fried is planning to raise funding before a possible IPO.

Advertisement
Varinder Singh
Varinder has over 10 years of experience and is known as a seasoned leader for his involvement in the fintech sector. With over 5 years dedicated to blockchain, crypto, and Web3 developments, he has experienced two Bitcoin halving events making him key opinion leader in the space. At CoinGape Media, Varinder leads the editorial decisions, spearheading the news team to cover latest updates, markets trends and developments within the crypto industry. The company was recognized as Best Crypto Media Company 2024 for high impact and quality reporting. Being a Master of Technology degree holder, analytics thinker, technology enthusiast, Varinder has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers.
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.