Connect with us

Business

Goldman Sachs to spin out crypto platform

Published

on

Goldman Sachs is reportedly planning to spin out its cryptocurrency platform, a move that signals the bank’s shift in strategy regarding its digital asset business. According to sources familiar with the matter, the global investment bank intends to separate the crypto platform from its core operations, potentially making it an independent entity. This decision comes amid a rapidly evolving cryptocurrency market and growing regulatory scrutiny, raising questions about how traditional financial institutions like Goldman Sachs navigate their involvement in digital assets.

The platform, which was launched to provide trading and investment services for cryptocurrencies, has faced challenges in terms of profitability and scalability. Despite Goldman Sachs’ early push into the crypto sector, including offering services such as crypto trading and advisory to institutional clients, the venture has struggled to establish itself amid market volatility and regulatory uncertainty. The decision to spin out the platform reflects the difficulties faced by major financial institutions as they balance innovation with the need for compliance and risk management.

Goldman Sachs’ potential spinout aligns with broader trends in the financial industry, where traditional players are reevaluating their positions on crypto-related ventures. While some banks have pulled back from direct involvement in cryptocurrencies due to regulatory concerns, others, like JPMorgan and Morgan Stanley, continue to expand their crypto offerings, targeting institutional clients. Goldman Sachs’ move could indicate a pivot toward more cautious, yet still active, participation in the cryptocurrency space.

The future of the spinout remains uncertain, with details on its structure and potential leadership yet to be disclosed. The report also raises questions about the long-term viability of institutional crypto services, particularly as the regulatory landscape continues to evolve. However, the separation of Goldman Sachs’ crypto platform could provide a more flexible structure to navigate these challenges, allowing the business to focus on scaling independently while aligning with future market and regulatory developments.

News

Binance launches in Syria after Trump lifts sanctions

Published

on

Binance has signaled interest in expanding its services to Syria following a recent move by former U.S. President Donald Trump to lift certain economic sanctions. The easing of restrictions has opened the door for global businesses, including cryptocurrency platforms, to re-evaluate their presence in the region.

A Binance spokesperson confirmed that the company is exploring opportunities in Syria and may extend support to local users. The development marks a potential shift in crypto accessibility for a country that has long faced economic isolation due to international sanctions.

Although no formal launch has been announced, the move suggests that Binance is preparing to tap into an underserved market. The company emphasized that it will continue to monitor regulatory guidelines while assessing how best to engage Syrian users within legal frameworks.

The renewed interest in Syria reflects broader efforts by crypto firms to expand globally amid shifting geopolitical and regulatory dynamics. If Binance proceeds, it could become one of the first major crypto platforms to reenter the Syrian market in years.

Continue Reading

Business

GameStop plunges 12% after proposing new $1.75B debt offering

Published

on

GameStop’s stock dropped 11% after the company revealed plans to offer $2.14 billion in convertible notes, sparking investor concerns about potential dilution. The market reacted sharply to the move, which could lead to an increased share count if noteholders opt to convert their holdings into equity.

The company stated that the proceeds will be used for general corporate purposes, which may include acquisitions and investments. Convertible notes provide flexibility for companies, but often trigger negative investor sentiment due to the future possibility of share dilution.

The timing of the announcement came just as GameStop was enjoying renewed attention from retail investors, particularly following the reappearance of “Roaring Kitty,” a central figure in the 2021 meme stock frenzy. That momentum was quickly undercut by fears surrounding the fundraising effort.

GameStop’s latest financial strategy highlights its continued attempts to adapt and remain relevant in a changing retail landscape. However, the negative market reaction reflects ongoing uncertainty over the company’s ability to convert hype into sustained performance.

Continue Reading

Business

Peaq and UAE bet on tokenized machines to power future economy

Published

on

The United Arab Emirates has introduced a new regulatory sandbox dedicated to advancing the machine economy, in collaboration with blockchain network peaq and Web3 data platform Pulsar. The initiative is backed by the country’s Artificial Intelligence, Digital Economy and Remote Work Applications Office and is aimed at supporting decentralized physical infrastructure networks (DePINs).

The sandbox offers a controlled environment where projects involving autonomous vehicles, delivery drones, and smart city applications can be tested and scaled. Developers will be able to deploy real-world use cases involving connected devices while benefiting from regulatory guidance and technical support.

Participants in the program will receive resources such as funding opportunities, mentorship, and access to strategic partners, enabling them to refine and expand their technologies. The initiative reflects the UAE’s continued efforts to lead in Web3 innovation, artificial intelligence, and future-driven economic models.

By fostering projects that combine AI, blockchain, and IoT, the UAE seeks to attract global startups to build the foundations of a decentralized machine economy. The sandbox is expected to drive real-world adoption of DePIN technologies across transport, infrastructure, and smart services sectors.

Continue Reading

Trending

Copyright © 2025 cryptonews.lk