The red-hot crypto market has shown little to no signs of slowing down, and banks are starting to take notice. As Bitcoin and other major cryptos such as Ethereum rallied to record highs, institutional demand has also been on the rise.
Goldman Sachs was one of the "earlier" adopters of the crypto space, exploring potential opportunities by restarting its cryptocurrency trading desk earlier this year. Citigroup announced earlier today that the firm was finally exploring the possibility of cryptocurrency products amid surging client interest — nearly 3 months behind Goldman.
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