Hyperlink Nº10—FTX UK, Options at Goldman Sachs
March 22, 2022
FTX Eyes Expansion into UK
FTX’s European head plots ‘cautious’ expansion into UK market [The Block]
FTX is eyeing an expansion into the UK market. The exchange is proceeding cautiously with UK regulators, as many other firms have failed to get approval from the Financial Conduct Authority (FCA) - the UK’s regulatory agency.
Derivative products, which have already been banned in the UK, make up the majority of FTX’s offerings. This is the reason FTX have chosen to lead their push into the UK market with their spot offering.
More on FTX’s international expansion:
FTX Continues Global Expansion, Creates Unit in Australia [CoinDesk]
Crypto Exchange FTX Announces Expansion Into Europe [Decrypt]
OTC Options Arrive at Goldman Sachs
Goldman Sachs makes first OTC crypto options trade as it expands digital assets team [The Block]
Goldman Sachs sends through its first over-the-counter Bitcoin option. The option is non-deliverable, is tied to Bitcoin’s price, and pays out in cash. The trade was handled by Galaxy Digital, an institutional crypto investment firm headed by Mike Novogratz.
This is a notable step forward for the major banks, as they have largely stayed away from crypto spot and derivative markets due to regulatory uncertainty, and existing know-your-customer (KYC) rules.
Goldman Sachs completes first OTC crypto options trade with Galaxy [Coin Telegraph]
Goldman Sachs to Offer Over-the-Counter Crypto Options Trading [Bloomberg]