Goldman Sachs shelves plans to build a crypto trading desk - report

Author: Adam Button | Category: Cryptocurrency

Crypto prices skid

It's a tough day in cryptos with Ether leading the way lower in a 9.5% swoon. Bitcoin is down 5% to $6985.

The latest round of selling comes after Business Insider reports that Goldman Sachs is halting plans to build a crypto desk in part because of a tough and uncertain regulatory landscape. In December, Bloomberg reported that they aimed to have the desk running by June.

The investment bank isn't giving up and may revive the plans later. For now, they're focusing on custody offerings in crypto

Ether is trading just above the August lows.

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