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).
Treasury Secretary Janet Yellen has announced that 100,000 businesses have signed up for a new database that collects ownership information intended to help unmask shell company owners. Yellen says the database will send the message that “the United States is not a haven for dirty money.”
A new version of the federal student aid application known as the FAFSA is available for the 2024-2025 school year, but only on a limited basis as the U.S. Department of Education works on a redesign meant to make it easier to apply.
A steep budget deficit caused by plummeting tax revenues and escalating school voucher costs will be in focus Monday as Democratic Gov. Katie Hobbs and the Republican-controlled Arizona Legislature return for a new session at the state Capitol.
The first U.S. lunar lander in more than 50 years is on its way to the moon. The private lander from Astrobotic Technology blasted off Monday from Cape Canaveral, Florida, catching a ride on United Launch Alliance's brand new rocket Vulcan.
Global prices for food commodities like grain and vegetable oil fell last year from record highs in 2022, when Russia’s war in Ukraine, drought and other factors helped worsen hunger worldwide, the U.N. Food and Agriculture Organization said Friday.
Wall Street is drifting higher after reports showed the job market remains solid, but key parts of the economy still don’t look like they’re overheating.
The Biden administration is docking more than $2 million in payments to student loan servicers that failed to send billing statements on time after the end of a pandemic payment freeze.
The nation’s employers added a robust 216,000 jobs last month, the latest sign that the American job market remains resilient even in the face of sharply higher interest rates.
A U.S. labor agency has accused SpaceX of unlawfully firing employees who penned an open letter critical of CEO Elon Musk and creating an impression that worker activities were under surveillance by the rocket ship company.
