Goldman Sachs CEO Lloyd Blankfein: I Don't Love Cryptocurrency
Goldman Sachs CEO Lloyd Blankfein says a lot of the talk about cryptocurrencies is “hype” and that he doesn’t “love” the concept of the digital assets.
“I don’t get how something that moves thirty percent in a day, or twenty percent, can be a store of value,” he told Cheddar. “Something that is very hard to clear or retain, that gets stolen a lot -- I don’t see how that can be a medium of exchange.”
His statements come after reports in December that Goldman was planning to launch a crypto trading desk by the middle of this year. Blankfein clarified that, while the company will clear futures contracts for customers, it has no plans at this time to buy, sell, and hold positions in digital assets for its customers.
Blankfein did acknowledge, though, that his skepticism over crypto may prove to be unwarranted.
“I remember when cell phones came out, and I said to myself, ‘Who the hell is going to lug around this thing?’ A lot of things have worked out that I don’t love...I’ve learned in my life in the financial markets, sponsoring companies and investing in things, to keep an open mind as long as you can.”
For full interview [click here](https://cheddar.com/videos/goldman-sachs-ceo-lloyd-blankfein-weighs-in-on-market-volatility-crypto-and-trump).
Sports Illustrated's employee union said in a statement that the layoffs would be a significant number and possibly all, of the NewsGuild workers represented.
CEO and founder of Pinstripes Dale Schwartz shares his thoughts on taking the company public, why they're set for growth this year, and why he's not concerned about inflation weighing on the restaurant sector.
With hype continuing to build for A.I. projects, expert insight on what companies seem poised to benefit, plus how it will impact the lives of everyday consumers.
Ford says it’s reducing production of the F-150 Lightning electric pickup vehicle as it adjusts to weaker-than-expected electric vehicle sales growth. The automaker said about 1,400 workers will be impacted by the move.
Walmart Inc. is raising the starting base pay for store managers, while redesigning its bonus plan that will put more of an emphasis on profits for these leaders.
Despite concerns about shipping delays in the Red Sea, RSM Chief Economist Joe Brusuelas says there are still reasons to be optimistic about the state of the U.S. economy.
Dan Ives, Managing Director and Senior Equity Analyst at Wedbush Securities dives deeper into a report by the International Data Corporation (IDC) that Apple has ended Samsung's 12-year reign as the world's largest smartphone seller.
