Goldman Sachs COO John Waldron could be the next leader in investment banking giants, and he talks about the significant demand for Bitcoin (BTC) for bank customers.
Waldron is working on BTC-related services and hopes it will help businesses take advantage of the new regulatory regime, which has lifted restrictions on financial institutions supporting digital assets.
Waldron hopes Goldman Sachs will join the sector more than ever before. For example, the bank recently resumed its digital asset trading desk, and in early March, his crypto trader team began trading with BTC futures and non-delivery forwards.
Sources familiar with this issue also include the company Investigate other blockchain-based projects Central Bank Digital Currency (CBDC).
Waldron has emerged as a strong candidate to replace Goldman Sachs CEO in place of David Solomon. He previously declined a lucrative opportunity to participate in Apollo Global Management and chose to stay with Goldman Sachs in exchange for an increased $80 million retention bonus, board sheets and access to private bank planes.
“It’s John Waldron that John Waldron will lose,” Wells Fargo’s Mike Mayo said of his potential future.
Read more: Donald Trump’s Crypto Enforcement Order Does Not Refer to Bitcoin
Waldron hopes for success after Sachs’ incomplete track record
However, Sax has a share of mistakes in the new industry. A dive into previous retail banking has been led $3 billion pre-tax loss Before the bank finally pulled the plug in 2022, it famously got caught up in the Malaysian corruption scandal, 1 Malaysian Development Bellhad (1MDB), leading to a $3.9 billion settlement with the Malaysian government and a cut in Solomon and Waldron’s salary.
With Goldman Sachs split into another new industry, Waldron’s current concerns are compliant with regulations.
In 2021, Waldron said Goldman Sachs was having discussions with regulators and central banks about how banks incorporate “digital money” in a regulated manner.
Even if he didn’t directly name a particular digital asset, he still discussed alternative asset management with university students and had conversations with senior executives at other investment companies, such as Soros Fund Management, in “paradoxical positions.”
