Bitcoin Summary: Goldman Sachs and Barclays Bank have invested in Elwood Technologies The two banks made the investment during a funding round together with Dawn Capital, the venture divisions of German lender Commerzbank and Galaxy Digital The funding round was worth $70 million at a $500 million valuation The traditional banking institutions of Goldman Sachs and Barclays Bank have invested in the London-based Bitcoin and crypto trading platform of Elwood Technologies. According to a report by the Financial Times, the two banks invested in the company during a funding round that was also participated by Dawn Capital, the venture divisions […]

Wall Street is moving its feet closer into crypto, as Goldman Sachs offered its first bitcoin-backed loan on Thursday, according to Bloomberg News. The secured lending facility allowed a borrower to use bitcoin (BTC) as collateral for a cash loan. Under this arrangement, a bitcoin holder is able to obtain fiat money – U.S. dollars in exchange for putting up their BTC as collateral to the bank. Consequently. if the price of bitcoin drops, the borrower may be required to increase their collateral. In the event they fail to put up the necessary collateral, they risk liquidation. Goldman Sachs joins […]