David Solomon, co-head of capital introductions for The Goldman Sachs Group Inc., speaks at the annual Milken Institute Global Conference in Beverly Hills, California, U.S., on Wednesday, May 4, 2011. The conference brings together hundreds of chief executive officers, senior government officials and leading figures in the global capital markets for discussions on today’s most pressing social, political and economic challenges. Photographer: Jonathan Alcorn/Bloomberg via Getty Images
Times are surely changing in the financial and banking industries right now: Today it was confirmed that Goldman Sachs, one of the most powerful and important banks of the world was appointing Mr. David Solomon as new CEO of their organization, in a move that sheds the old for the new in many ways. Yesterday it was a rumor but today it was made official by Goldman Sachs: he will substitute Lloyd Blankfein, who was 12 years at the helm of this organization.
Goldman Sachs importance to the financial world is unparalleled. Goldman Sachs is one of the most important and largest financial services providers and investment banks all around the world, and their posture about cryptocurrencies is of utmost importance for the cryptosphere. The new CEO, David Solomon, is a known philanthropist and DJ, also known by his artistic name, DJ-Sol. But the most important part is that he has publicly admitted that he is not opposed to the concept of cryptocurrencies.
Furthermore, he has been open to adding these kinds of assets to the portfolio of Goldman Sachs but with a “cautious” approach, something that is understandable if you are in front of one of the most important banks in the whole world. In contrast, the exiting CEO Lloyd Blankfein had declared that cryptocurrencies were not the thing for him. But Goldman Sachs was one of the traditional banks that was not directly opposed to the idea of cryptocurrencies, even having some kind of investment in crypto related startups like Circle: a known cryptocurrency startup that has lately proposed the creation of a virtual substitute for the US dollar.
David has also been involved in the offering that Goldman Sachs has made to their client on bitcoin derivatives, investment options that lets their customer bet on the performance of the said cryptocurrency. But, as some sources say, the most important thing about this about this is the openness that David has about the idea of cryptocurrencies as a whole, declaring that:
“Goldman Sachs must evolve its business and adapt to the environment”