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The Financial Times reported on Thursday that the founder and CEO of crypto exchange FTX, Sam Bankman-Fried, has met with Goldman Sachs (GS) CEO David Solomon to discuss a potential collaboration between the two companies.
Citing people close to the matter, during the meeting set in the Caribbean, the two discussed Goldman Sachs taking an advisory role on FTX’ future funding rounds and also taking a role in a potential initial public offering (IPO).
In addition, Solomon offered his firm’s advice to FTX in regulatory matters and the two spoke about ‘market making’ in crypto trades, which involves setting buy and sell prices on certain assets to facilitate trades and offer liquidity.
Last year, Goldman Sachs led the initial public offering (IPO) of crypto exchange Coinbase (COIN).
Recently, president of FTX.US, Brett Harrison explained the importance of derivative trading as he was referring to his firms’ application with the Commodities Futures Trading Commission (CFTC) last month where the exchange requested the regulator to enable margin trading for its derivatives platform.