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The collapse of the cryptocurrency exchange FTX has rattled the digital assets market and made the crypto winter worse for the stocks in this space. Nonetheless, leading investment bank Goldman Sachs (NYSE:GS) sees this as an opportunity to spend “tens of millions of dollars” to buy or invest in crypto companies trading at low valuations, Reuters reported. Goldman is Looking for Bargains in Crypto Mathew McDermott, head of digital assets at Goldman, believes that the FTX fiasco has reinforced the need for regulated crypto players, providing big banks a chance to grab some business in this space. McDermott told Reuters that Goldman is conducting due diligence on several crypto firms.
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