Goldman Sachs have not been shy in sharing their dislike for all things crypto; so, it is rather shocking that an executive director of the highly esteemed financial firm has decided to leave in order to get on board with a UK based cryptocurrency broker. This is perhaps a sign that crypto is becoming more and more mainstream, and is becoming more accepted in daily life.
Cryptocurrencies have not had the best reputation throughout the years, with many financial institutions believing that criminals used it to launder their money; but this is slowly changing, and the likes of Bitcoin have started to be infiltrated into everyday societies.
Phillip Gillespie, who had been with Goldman Sachs since 2015, is due to take up his positions as chief executive of the Japanese operations for B2C2 at the end of January. The founder of B2C2 is Max Boonen, who is rumoured to be absolutely delighted that Gillespie has got on board, as they begin to fulfil the aim of expanding their operations in the Asian Pacific region.
Gillespie’s position at Goldman Sachs was an algorithmic trader for foreign exchanges. He has previously worked as an FX voice and systematic trader at JP Morgan Chase, and Barclays. The news of his new position comes just a few days after six asset managers from some of the leading firms in the world have spoken about how they will refuse to invest in Bitcoin, despite the gains that it has seen over the past twelve months. In one year, Bitcoin went from being under $1,000 to nearly hitting $20,000. It has had a rocky start to 2018 however.
Despite this bold move, there are still a number of high profile firms who are not interested in cryptocurrencies, claiming that they are too immature a financial instrument, and that they would only be engaging in speculation.
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