Insights on the rise of crypto currencies, Blockchain technology and decentralized finance
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The Winter of Crypto's Discontents
The recent rapid collapse of cryptocurrency exchange FTX on the heels of the crash of Terra’s Luna stablecoin and the failure of the Celsius crypto lending platform has sent shockwaves through the crypto ecosystem. In the wake of these events, questions about regulatory oversight of digital assets, where the ecosystem goes from here, and potential spillover risks to the financial system and the real economy are Top of Mind.
The Economics of Algorithmic Stablecoins
GS Research analysts examine the major drop in cryptocurrency prices and how digital asset markets have been dominated by volatility in stablecoins (cryptocurrencies intended to be pegged 1:1 with fiat currencies, most commonly the US Dollar). While these assets are fairly new, many of the economic issues affecting stablecoins will be familiar to FX market participants and other investors.
Digital Assets: Beauty Is Not in the Eye of the Beholder
The digital asset ecosystem is extremely complex and rapidly evolving. However, should cryptocurrencies be considered a viable asset class for diversified portfolios? Read our latest report to learn more.
What’s Next for Central Bank Digital Currencies
Goldman Sachs Research’s David Mericle, chief US economist, discusses why central banks are considering digital currencies and the potential implications for the financial system and monetary and fiscal policy.
Digitizing Bonds on the Blockchain
Earlier this year, the European Investment Bank (EIB) issued and settled its first-ever digital bond using Ethereum blockchain technology. We sat down with Mathew McDermott, global head of digital assets, and Maud Le Moine, head of sovereign, supranational and agency origination in the Investment Banking Division, to discuss the transaction and its implications for capital markets and digital finance.
Blockchain + The Capital Markets: Unlocking a New Era of Speed and Transparency
Earlier this year, Goldman Sachs co-led the first public digital issuance on Ethereum public blockchain for the European Investment Bank. Learn how the transaction worked and why it represents a potential sea change in capital markets.
Crypto: A New Asset Class?
Should cryptocurrencies be considered an institutional asset class? That’s the question Goldman Sachs’ Allison Nathan explores on this episode of Exchanges at Goldman Sachs in conversations with Galaxy Digital’s Michael Novogratz, NYU’s Nouriel Roubini and Goldman Sachs’ Mathew McDermott. To read the report, click here.
Markets Update: Cryptocurrency Trading
Mathew McDermott, head of Digital Assets for Goldman Sachs’ Global Markets Division, discusses the cryptocurrency trading environment for institutional investors.
China’s New Digital Currency Initiative
Andrew Tilton, chief Asia economist for Goldman Sachs Research, talks about China's new digital currency initiative and its potential implications for consumers, banks and the Chinese economy.