Goldman Sachs plans to splash “tens of millions of dollars” on investments or buyouts in crypto firms after the FTX collapse hit last month and suppressed investor interest.

The FTX collapse and subsequent contagion across major lending firms had elicited calls for more regulatory oversight on players, assuring big banks of the sector’s stability. In an interview with Reuters, Mathew McDermott, Goldman’s head of digital assets, revealed that the bank was conducting due diligence on several crypto firms noting that they saw an opportunity for businesses in the crypto sector to pick up.

(by Newton Gitonga)