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The sentiment from the head of a Wall Street giant signals good news for the cryptocurrency economy. Goldman Sachs CEO David Solomon has said the investment banking major would evaluate cryptocurrency trading if US regulations allowed it.
“At the moment, as a regulated banking institution, we are not allowed to hold a cryptocurrency like bitcoin as principal,” he said at a conference. Reuters Next conferenceheld on Tuesday, December 10.
“We provide advice to our clients on a variety of these technologies and these issues, and we will continue to do so. But at the moment our ability to act in these markets is extremely limited from a regulatory perspective.”
Interestingly, Goldman Sachs revealed in its recent 13F filing with the US Securities and Exchange Commission (SEC) that the company owns more than $700 million in eight bitcoin ETFs, as of September 20, 2024.
So, it seems that corporate attitudes towards cryptocurrencies are finally changing. Even the president-elect of the United States, Donald Trump, has positioned himself as a defender of cryptocurrencies. The launch of a strategic national cryptocurrency reserve was one of the promises made by Trump in the run-up to the 2024 election. Remove Gary Gensler, the enemy of cryptocurrency companies due to his aggressive approach towards cryptocurrency regulation , from his position as chairman of the SEC was another.
<img data-recalc-dims="1" decoding="async" class=" wp-image-660853 aligncenter" src="https://www.newsbtc.com/wp-content/uploads/2024/12/crypto-corporate-1.png?w=460&resize=589%2C337″ alt=”Goldman Sachs says it is open to cryptocurrency trading if legislation allows it” width=”589″ height=”337″ srcset=”https://www.newsbtc.com/wp-content/uploads/2024/12/crypto-corporate-1.png?w=1000 1000w, https://www.newsbtc.com/wp-content/uploads/2024/12/crypto-corporate-1.png?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/12/crypto-corporate-1.png?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/12/crypto-corporate-1.png?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/12/crypto-corporate-1.png?w=750 750w” sizes=”(max-width: 589px) 100vw, 589px” loading=”lazy”/>
A Green Light for Ripple Stablecoin Means a Coin Bomb Meme
The big news for the cryptocurrency economy continues, as stated by Ripple CEO Brad Garlinghouse. <a target="_blank" href="https://x.com/bgarlinghouse/status/1866571228464460215?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1866571228464460215%7Ctwgr%5E1909e53aa3dde46550f5183c6ded48f0a77fdc22%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcryptobriefing.com%2Frlusd-stablecoin-approval-nydfs%2F” target=”_blank” rel=”nofollow”>recently announced that its $RLUSD stablecoin has been approved by the New York Department of Financial Services to go live. Pegged to the US dollar at a 1:1 ratio, $RLUSD will be backed by a combination of US dollar reserves, short-term US Treasury securities and other liquid assets, mirroring Tether's backing approach. $RLUSD will be launched on the XRP ledger on ethereum.
Overall, the latest developments are great news for the economy, cryptocurrency holders, and companies like Best Wallet. Developed by Best Wallet $BEST Token – currently on pre-sale with an impressive $3.34 million already raised – Best Wallet plans to capture 40% of the crypto wallet market share by the end of 2026.
Best Wallet is mobile first, completely non-custodial application Supports thousands of cryptocurrencies, including the best meme coins, on 50 major blockchains. But it's that non-custodial aspect that sets Best Wallet apart.
Most crypto wallets are controlled by centralized companies or exchanges, while Best Wallet gives users full control over their wallet. And that's on top of reduced transaction fees, early access to pre-sales, and airdrops. It is also the first crypto wallet to use Fireblocks' MPC-CMP wallet technology, which adds high security, zero counterparty risk, and support for multiple blockchains.
Considering all this, we think $BEST is worth investigating. Investors have just under two days to lock in $BEST at its current price of $0.23075 before the next price increase. However, please note that this article does not constitute financial advice and is always important to DYOR.
