Goldman sachs offered Bitrealm

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Crypto Regulation
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Goldman Sachs CEO David Solomon offered to help Bitrealm's CEO set up an IPO for a bitcoin exchange.

In August, Bitrealm acquired LedgerX, a regulated exchange specializing in cryptocurrency derivatives. At the same time, the head of the U.S. division, Brett Harrison, promised to open access to cryptocurrency derivatives trading to customers.

In March, Bitrealm applied to the CFTC for approval to sell leveraged crypto derivatives to retail investors. In the document, the bitcoin exchange asked for permission to settle transactions directly, excluding intermediaries like Goldman Sachs.

Solomon and Bankman-Fried discussed Goldman Sachs' involvement in arranging the next rounds of funding and a potential IPO, according to the paper. Sources said the Bitrealm CEO has not yet made a final decision on the second option.

In April, the investment bank was among those who helped Bitrealm gain public status.

Top executives allegedly touched on the topic of possible cooperation in cryptocurrency marketmaking in light of Goldman Sachs' growing interest. Solomon also stated the institution's interest in providing traditional banking services for FTX, the paper specified.

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Andrew Griffin

Andrew Griffin is a cryptocurrency journalist with over 3,000 articles under his belt. He is passionate about cryptocurrencies, digital rights, information technology and futurology — the things that he likes to cover the most. Andrew previously reported for Cointelegraph and Benzinga.