Goldman Sachs intends to buy cryptocurrency companies affected by the collapse of FTX

Goldman Sachs plans to spend tens of millions of dollars to buy cryptocurrency companies after the collapse of the FTX exchange hit estimates and reduced investor interest. Mathew McDermott, head of digital assets at Goldman Sachs, said in an interview with Reuters that large banking corporations see the crisis of the FTX cryptocurrency exchange as opportunities for business expansion and future expansion in the crypto asset market. According to McDermott, the problems of the industry have significantly reduced the attractiveness of cryptocurrency companies for investors specializing in short-term speculative operations, and also created a favorable background for the acquisition of businesses of troubled companies. The top manager added that Goldman Sachs has already started selective due diligence of some crypto firms.