Goldman Sachs (GS) stated in a report last week that the market structure and participation have evolved to a great extent this year and have become more institutionalized. By 2023, regulated and centrally cleared derivative trading venues will increase in the cryptocurrency market, including Coinbase Derivatives, CBOE, Eurex, GFO-X, AsiaNext, and 24 Exchange.

According to a statement from the US Securities and Exchange Commission, Goldman Sachs' submitted securities trading information did not provide all necessary trading data. The regulatory agency stated that over the past decade, Goldman Sachs submitted at least 22,000 flawed blue sheets. The SEC found 43 omissions or other errors on the blue sheets. As a result, the submission of a total of 163 million transactions did not meet the legal requirement for proper disclosure. In addition, the US Securities and Exchange Commission accused Goldman Sachs of not having proper internal review processes.

Tech giant Apple is working with Goldman Sachs to develop a stock trading app for its devices. The tech giant plans to compete with companies like Robinhood, Square, and other similar companies that offer BTC and cryptocurrency to their customers. Some users on social media platforms have claimed that if the platform is exposed, Bitcoin (BTC) and other cryptocurrencies may be available on the platform. The project is currently on hold and there are no immediate plans to launch it. However, a source close to the project said that the platform's user interface and infrastructure are ready.

Former Goldman Sachs executive and current CEO of Real Vision, Raoul Pal, explains his bullish stance on cryptocurrency assets.In an AMA conference on YouTube, the macro expert stated that blockchain allows users and investors the opportunity to directly own and operate a part of the network, rather than only obtaining a share of the network through purchasing stocks of related companies like other systems.

Goldman Sachs analysts predict that the Federal Open Market Committee (FOMC) will halt interest rate hikes in September, followed by a decline in interest rates, which would benefit equity, Bitcoin, and crypto markets. The Nasdaq Composite and Bitcoin have both seen significant gains this year. Goldman Sachs expects interest rate reductions to begin in June 2024, with quarterly reductions thereafter.

Goldman Sachs stated in a research report released in the early hours of the 14th that our baseline prediction is that the Federal Reserve's FOMC will begin lowering the federal funds rate in the second quarter of 2024. We expect a quarterly rate cut of 25 basis points. If the FOMC is more confident that inflation will not return, it can cut interest rates at a faster pace.

June 29 (Cointime) - Former Goldman Sachs executive Craig Broderick has been appointed to the board of directors of Circle Internet Financial, the issuer of the USDC stablecoin. Broderick, who spent over three decades at Goldman Sachs, including as chief risk officer, will bring his extensive experience in risk management to Circle.

June 16 (Cointime) - Goldman Sachs is under investigation by the Federal Reserve and Securities and Exchange Commission (SEC) for its involvement in the purchase of Silicon Valley Bank's securities portfolio before the bank's collapse.

London-based crypto venture capital firm Eden Block has hired former Goldman Sachs partner Orit Freedman Weissman as a general partner. Freedman Weissman spent 20 years at Goldman Sachs in Israel, where she specialized in M&A, financing, and investing in private companies, particularly in the tech sector. She has also performed due diligence on over 50 crypto-focused funds for her family office. Eden Block, which remains small compared to its rivals, is planning a second fund and has made promising bets, including privacy startup Nym Technologies and Gensyn, the compute power marketplace. Freedman Weissman has been brought in to help scale the company and institutionalize it.

Goldman Sachs has reported that on-chain statistics for May present a mixed outlook for bitcoin and ether adoption. While there have been few changes to ether balances across cohort groups, bitcoin addresses with balances of over 100,000 BTC have seen a 31% monthly decrease.