Goldman Sachs Is Now Hiring A Crypto Project Manager

Goldman Sachs is now hiring a cryptocurrency project manager according to the latest reports that we have here in our altcoin news today. The company wants its new manager to lead the development of Distributed Ledger technology.

The Open Vice President and executive director level position will be responsible for developing comprehensive road maps for the distributed ledger technology so the new project manager has to manage the Goldman Sachs engineers in order to create a distributed ledger project. The company denied the rumors at the start of this year that the investment bank is planning to open a crypto trading desk. The rumor has persisted ever since a Bloomberg report from 2017 emerged. The CEO of Goldman Sachs David Solomon put the rumors to rest in a statement back in April.
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“That Bloomberg article was not appropriate. Like others, we are watching, plus doing work to try and understand the cryptocurrency marketplace as it develops. We have some clients that have certain functionality that we’ve engaged with on clearing physically-settled futures. But other than that, we never had plans to open a cryptocurrency desk.”

However, since Goldman Sachs is now hiring it looks like the legacy of the finance giant is more interest into creating their own cryptocurrency rather than helping clients invest in other cryptocurrencies that are already out there. Now that the social media giant Facebook is making a massive entry into the finance industry, maybe Goldman is now taking the threat seriously.

Briefly, before Goldman Sachs announced last year that Solomon will be replacing Lloyd Blankfein as CEO, Solomon noted that the company is looking at bitcoin but will proceed with caution:

“We are clearing some futures around bitcoin, talking about doing some other activities there, but it’s going very cautiously. We’re listening to our clients and trying to help our clients as they’re exploring those things too.”

As noted in the latest cryptocurrency news, at this stage of crypto market adoption, the legacy finance industry will be in huge trouble unless it makes a bold move. Even social media companies are now a threat to the finance industry’s profits.