Goldman Sachs is reportedly pursuing an alliance with one of many high cryptocurrency exchanges FTX.

The chief government officer of Goldman Sachs David Solomon reportedly met with Sam Bankman-Fried, the founding father of FTX in a closed-door assembly in March to debate numerous prospects of working collectively, reported Monetary Instances.

Based on the report, the main factors of debate have been round mitigating regulatory compliance in america and Goldman Sachs provided to assist them, particularly with the Commodity Futures Buying and selling Fee. Other than regulatory help, the Wall Avenue financial institution additionally provided to assist with future funding rounds.

The most recent report highlights the rising relationship between conventional Wall Avenue giants and rising crypto firms. Goldman Sachs has additionally proven curiosity in serving to FTX with its public itemizing. Nonetheless, individuals accustomed to the matter claimed that Bankman Fried is at present searching for extra personal fundraising alternatives.

FTX crypto alternate wins license in Dubai to open native headquarters

FTX has racked up a valuation of $32 billion after three funding rounds ranging in tons of of hundreds of thousands of {dollars}. The final funding spherical got here in the direction of the top of January when the crypto agency closed a $400 million funding spherical, which can be the smallest of the three funding rounds.

Goldman Sachs like many different Wall Avenue giants has come a good distance from its early days of Bitcoin bashing and at present seeking to take a pie in FTX, one of many greatest crypto market firms for the time being.

Goldman Sachs and FTX didn’t reply to requests for feedback from Cointelegraph on the time of publishing.

The reviews of an alliance between one of many greatest wall avenue banks and one of many largest crypto exchanges come at a time when FTX had filed an software with CFTC requesting to eradicate brokers resembling Wall Avenue banks within the monetary markets with its crypto futures merchandise.