Goldman Sachs Eyes Partnership with FTX on Private Funding and IPO

Private Funding and IPO

Goldman Sachs and cryptocurrency exchange FTX are in talks for a possible partnership around private funding and a potential Initial Public offering.

The Chief Executive of the investment bank David Solomon reportedly met with FTX’s Sam Bankman-Fried to discuss how the exchange could benefit from its advisory services.

The bank is also looking at an opportunity to play an active role in FTX’s funding rounds and assist in matters of compliance with the regulatory agencies.

The discussion between the two executives also revolved around the possibility that Goldman could collaborate with FTX in the market making of the exchange’s crypto trades. The duo also discussed the traditional banking services for Bankman’s firm.

FTX filed a proposal in March with the CFTC to be allowed to deal in leveraged cryptocurrency derivatives for retail investors and to settle trades without intermediaries.

FTX was founded in 2019 by the 30-year-old entrepreneur and has grown to a valuation of more than $32 billion, ahead of Deutsche Bank and Credit Suisse.

Source: FT

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