Goldman CFO Says Report That Bank Is Abandoning Plan To Trade Cryptocurrencies As "Fake News" --- "I never thought I would hear myself use this term but I really have to describe that news as fake news," https://t.co/j4ZQGgjd3l
This is why I fucking hate the media. They lie all the time and they don’t even care if everyone knows it. American news media has become mere tabloids. Actually 1990’s national enquirer is more credible than American news media outlets these days.
What a fucking scam. Float fake news from one hand and have the head say something else. That’s a 10% dip they manipulated, and exactly with the SEC needs to get it together and start putting some goddamn rules to crypto. By putting off ETFs, the US is risking losing their position as a global financial leader
>the SEC needs to get it together and start putting some goddamn rules to crypto
didn't they pull something similar with the 'oh wait that rejection was from one of our lower departments, we need to review it' shenanigans?
I pointed this out yesterday... If you went back to the original rumour, it was from anonymous sources.
Even then, most of the actual articles yesterday just said their priority was going to be the custody product. Which is what the original rumours said they were going to do first. The fake news is that the original rumours said they'd have a trading desk by June. Which they didn't. So the lack of any further news from them respecting a trading desk should have been priced in by anyone who cared about the rumour in the first place.
sthawnjacque4 months old | 26 cmnt karma | Karma CM: 33 months ago
Yeah they're probably busy liquidating their tech stocks from the past week when they pumped the nasdaq up faster than it's gone since the tech bubble. They're shifting from one major pump to the next.
They can't be ignoring BTC, it's just not possible. It's an elephant in the room and no one will be ignoring it in a few years. They want to get in at a more convenient level, which means that we should too.
And this whole "fake news" thing is turning into the new witch hunt. Just because something doesn't agree with your world view doesn't mean that it should be labelled as "fake"
Unless they can arrange large private purchases, they can't just dump all their money in on the open markets, they'd drive the price up for themselves. They'd rather buy in a little bit at a time when conditions are favourable.
Mostly for strategic reasons, not for themselves, but their clients. Tax implications for example. You also have to keep in mind, that they are likely dealing over-arching many different jurisdictions.
Simplest explanation is one prop desk shorted it at resistance level and then notched Bloomberg friends to spread fud. Because profit. Goldman likes moneys. Bonus pay very nice. However, Goldman is huge organisation and not everybody is colluded. Ergo statement from this guy.
edit: it was Business Insider (known fud source) who first reported "news from unknown source familiar with the matter" and Bloomberg was quick to spread it
more proof that high frequency trading runs by its own agenda. Unless BTC and BCH return to 7360$ and 630$ immediately on this news, consider pricing broken and consider having extra funds to buy on the cheap every so often.