• In January 2023, Goldman Sachs announced plans to cut around 3,200 staff members as part of a cost-cutting exercise.
• Despite this move, the bank remains open to hiring new talent in the cryptocurrency space due to their commitment to explore and invest in the crypto market.
• Cryptocurrency professionals are now being sought after by Goldman Sachs as they believe that digital assets are essential for the future of finance.
Goldman Sachs Announces Staff Cuts
In January 2023, Goldman Sachs, a multinational investment bank, announced plans to cut around 3,200 staff as part of a cost-cutting exercise.
Still Open To Hiring Crypto Talent
Despite this move, the bank remains open to hiring new talent in the cryptocurrency space. Goldman Sachs has been actively exploring and investing in the crypto market over the past few years and offering its clients exposure to cryptocurrencies through various services.
McDermott On Crypto Expansion Plans
Mathew McDermott, Goldman Sachs’ global head of digital assets, stated that they remain committed to building their crypto team and actively seek out suitable candidates. He believes that cryptocurrencies are essential for the future of finance and wants his organization at its forefront in this rapidly evolving market.
Crypto Market Expectations
Expectations are high regarding major financial institutions increasing their involvement with cryptocurrencies and decentralized finance (DeFi) replacing traditional banking systems becoming popular within 2023.
Despite announcing a large layoff early in 2021, it’s clear that Goldman Sachs is still dedicated to staying at the cutting edge of digital currencies with plans to build up their crypto team further throughout 2021.