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Galaxy Digital Becomes The Liquidity Provider For Goldman Sachs' Bitcoin Futures Trading
Summary: According to an exclusive CNBC report, Goldman Sachs has reached a partnership with Galaxy Digital, a crypto investment company founded by Mike Novogratz, to conduct Bitcoin futures trading. Galaxy Digital will act as Goldman Sachs' "liquidity provider" to provide quotes for buy and sell orders. Last month, Goldman Sachs stated that it would sign a ...
According to an exclusive CNBC report, Goldman Sachs has reached a partnership with Galaxy Digital, a crypto investment company founded by Mike Novogratz, to conduct Bitcoin futures trading.
Galaxy Digital will act as Goldman Sachs' "liquidity provider" to provide quotes for buy and sell orders.
Last month, Goldman Sachs stated that it would sign a new liquidity provider to help expand its products.
Goldman Sachs will provide customers with a way to bet on Bitcoin using derivatives, including arbitrage bets related to the price gap between CME Group Bitcoin futures and Bitcoin, relative value trading between Bitcoin and Ethereum, and the creation of Bitcoin structured notes.
Damien Vanderwilt, Galaxy Co-President and Head of Global Markets, said these products are the first time Goldman Sachs has used digital asset companies as counterparties since it established its cryptocurrency division last month.
By Mary Liu
Tags: Bitcoin,Bitcoin Futures,Galaxy Digital,Goldman Sachs,Mike Novogratz
Link: Galaxy Digital Becomes The Liquidity Provider For Goldman Sachs' Bitcoin Futures Trading [Copy]
