Sam Bankman and David Solomon talked about Goldman Sachs advising FTX during talks with U.S regulators and a potential IPO.
The Financial Times reported that Sam Bankman-Fried (the founder and CEO) of crypto exchange FTX met David Solomon, CEO at Goldman Sachs, in the Caribbean to discuss possible collaborations between the two companies.
According to the report, the two chief executives discussed Goldman Sachs advising FTX (valued at $32 Billionin January) on future funding rounds as well as taking part in a possible initial public offering (IPO).
Solomon also provided advice from Goldman Sachs to FTX during discussions with U.S. regulators. FTX submitted a proposal to the Commodity Futures Trading Commission (March) that would allow it directly to clear derivatives trades. The proposal will be given an informal hearing by the regulator on May 23.
They also discussed the possibility of collaborating in market making for crypto trades. Market making is the setting of buy and sell prices for certain assets in order to facilitate trades and provide liquidity.
These discussions show the growing interest mainstream financial institutions have in crypto after Coinbase ‘s IPO last year.
CoinDesk reached out to Goldman Sachs for comment but they declined to respond. FTX did not respond to press time.
