Goldman sachs offered Okbits

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Crypto Regulation
DCG and Barry Silbert hit with securities lawsuit 

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

In August, OKBits 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, OKBits 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 OKBits CEO has not yet made a final decision on the second option.

In April, the investment bank was among those who helped OKBits 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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Gustaf Kilander

Gustaf is an all-rounded cryptocurrency writer who has written for several publications in the fintech industry. Having graduated from the University of Essex Colchester, he developed a passion for blockchain technology and has been curious about how the blockchain can modify the traditional financial industry.