GM/GN everyone.
Help me understand this, please.
Following the collapse of the FTX, which impacted valuations and reduced investor interest, Goldman Sachs aims to invest or spend tens of millions of dollars buying crypto companies. Which indicates to me that they clearly see some benefits of blockchain if it's under their control.
Why would one of the biggest investment banks in the world want to buy FTX's scraps?
As others in this thread have already mentioned, Goldman Sachs is not talking about the buying what is left of FTX and Alameda to reopen it or something like that. They are talking about the fact that the bankruptcy of FTX has caused a massive crash of basically every crypto project out there and this could be a good opportunity to buy into some good crypto projects with strong fundamentals because such a project has a very high chance to pump again once the next bull market arrives.
This does not even mean that Goldman Sachs is having a positive view on cryptos or something, it just means that they maybe see a good investment opportunity here.