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Wall Street News

When Goldman Talks, Cryptocurrency Investors Listen

September 5, 2018

by Howard Haykin


On Thursday morning, Goldman Sachs announced that it was dropping near-term plans to open a trading desk for cryptocurrencies. The reason - the ambiguous regulatory environment. Within 10 minutes, the crytopcurrency markets were in turmoil. Bitcoin fell more than 3%, while Ethereum dropped by as much as 12%.


Over the past year, Goldman Sachs has been considering the launch of a new trading operation focused on digital currencies. Yet, executives concluded that many steps still need to be taken (mostly outside of the bank's control) before a regulated bank would be allowed to trade cryptocurrencies – that, according to BusinessInsider.


As of late Thursday afternoon, the cryptocurrency markets remained unsettled. Here's how the markets performed over the past 24 hours:




Prices as of 4:20 a.m. (ET), Thursday - 9/5/18 - keep in mind that prices are in constant fluctuation.





     24-Hour     % Change

  Market Cap


  Bitcoin (BTC)



  -  5.6%

  $120 Bn


  Ethereum (ETH)


  $ 246

  - 13.9%

  $  25 Bn


  Ripple (XRP)


  $ 0.29

  - 11.3%

  $  12 Bn


  Bitcoin Cash (BCH)


  $ 542

  - 13.7%

  $   9 Bn


  Stellar (XLM)


  $ 0.21

  -  8.3%

  $  4.0 Bn


   EOS (EOS)


  $ 5.43

  - 16.4%

  $  4.9 Bn


  Litecoin (LTC)


   $  60

  - 11.2%

  $  3.5 Bn



For current prices of all Cryptocurrencies, click on