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Sujit Kumar
Mar 15, 2025
by Sujit Kumar

Goldman Sachs Breaks Silence on Crypto in Shareholder Letter

Goldman Sachs Breaks Silence
In a historic move, Goldman Sachs, the world’s second-largest investment bank, has formally acknowledged cryptocurrencies and blockchain technologies in its 2024 annual shareholder letter—a first since its years-long silence on digital assets dating back to 2017.

The bank stated, "The growth of electronic trading and the introduction of new products and technologies, including trading and distributed ledger technologies, such as cryptocurrencies… has increased competition.”

Wall Street Giant Responds to Crypto Disruption

Goldman Sachs’ recognition marks a significant shift, spurred by Bitcoin ETF approvals, rising crypto adoption, and pro-crypto policies under the Trump administration. The bank admitted it faces rising competition from institutions offering crypto-focused financial products.

Though cautious, Goldman Sachs has gradually ventured into the sector, launching a crypto trading desk in 2021, a Digital Asset Platform in 2022, and participating in Canton Network, a blockchain-based financial infrastructure system.

Still, the firm noted potential cybersecurity risks and market volatility, emphasizing the nascent nature of blockchain technology.

Strong Financial Performance in 2024

Beyond crypto, Goldman Sachs reported robust performance in 2024, with $53.5 billion in net revenue (up 16% YoY) and EPS of $40.54 (up 77%). Return on Equity rose to 12.7%, and client assets surged to $1.6 trillion under Asset & Wealth Management.

The bank also introduced AI-driven automation tools and launched the Capital Solutions Group to strengthen private credit operations.

As Goldman Sachs embraces innovation across crypto and AI, its evolving strategy signals a broader shift in traditional finance.

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Goldman Sachs Breaks Silence
Goldman Sachs Breaks Silence on Crypto in Shareholder Letter
Sujit Kumar
Sujit received his Bachelors in Science from the LNMU Darbhanga. He is currently working as a Content Strategist. He has more than three years of professional experience in information systems, security policies, technologies, and Cryptocurrency. He has published 6 books in the area of information security and assurance. He has published more than 50 research articles in leading journals Regarding the Latest and Breaking Crypto News and updates. His research interests include access control, computer forensics, Digital Marketing, Web development, business hacks, player experience, and virtual storytelling.

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