Goldman Sach exec Mathew McDermott reportedly said that at the moment, crypto firms are priced more sensibly.
As crypto company valuations are affected by the recent FTX debacle, financial services firm Goldman Sachs is looking to swoop in and invest millions to purchase or invest in crypto firms while the prices are low.
In an interview with mainstream media outlet Reuters, Mathew McDermott, an executive at Goldman Sachs,said that big banks are seeing opportunities in the space as the FTX collapse highlighted a need for more regulation within the industry. The executive added that the firm is currently seeing opportunities that are"priced more sensibly" and are already doing its due diligence on some crypto companies.
Commenting on the FTX debacle, McDermott also noted that in terms of sentiment, the market encountered setbacks. However, the traditional finance executive highlighted that though FTX became a"poster child" of the space, the underlying tech behind the industry"continues to perform."
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