Goldman Sachs and Nasdaq Leaders to Attend Finance Forum
The walls between Wall Street and the digital frontier continue to fall as banking titans and exchange leaders align with the administration for a historic policy summit. While institutional giants solidify their crypto roadmaps, retail investors are navigating a complex "milder" crypto winter and a transformative tax reporting landscape .Stay up on the crypto news that matters with "Crypto Currents," daily from The Fly. Join us at 2 PM ET for your essential briefing on the fast-moving world of cryptocurrency on FlyCast radio.WALL STREET LEADERSHIP AND POLICYMAKERS TO ALIGN AT FINANCE FORUM:The nexus of traditional finance and the digital asset industry is set to reach a new milestone as executive leadership from Goldman Sachsand Nasdaqprepare to join a high-stakes "future of finance" forum., CEOs of these major financial institutions will headline the event at Mar-a-Lago alongside political figures, signaling a profound tightening of ties between the administration's crypto initiatives and the banking sector. Reinforcing this trend, Intercontinental Exchangeannounced thatto increase institutional access to digital asset markets. This institutional shift is mirrored in Washington, D.C., wherethe launch of its new Policy Center led by veteran crypto lawyer Jake Chervinsky. The center's primary objective is to draft a legal framework for perpetual derivatives and create a clear adoption pathway for decentralized finance within the United States.STARBOARD VALUE PRESSES RIOT PLATFORMS ON AI PIVOT AS ANALYSTS IDENTIFY MINING LEADERS:Infrastructure is becoming the primary battleground for crypto growth, with activist investor Starboard Value formally urging bitcoinminer Riot Platformsto accelerate its transition into artificial intelligence data centers.that Starboard believes Riot is significantly undervalued compared to competitors who have more aggressively courted hyperscaler tenants. This focus on infrastructure efficiency is echoed by JPMorgan, which has officially named Bitdeeras a leader in the mining sector. Amidst these shifts, Strategyexecutive chairman Michael Saylor noted onthatwhile the market is in a "crypto winter," it appears to be far milder and shorter than previous cycles.ETORO SURGES ON EARNINGS BEAT AS FIGURE TECHNOLOGY UPSIZES SECONDARY OFFERING:Publicly traded crypto-adjacent firms are seeing significant market action, with eToroshares jumping over 20% following a fourth-quarter earnings report that exceeded analyst expectations.that cryptoasset activity was the primary driver for eToro's $3.87B in Q4 revenue. Simultaneously, Figure Technology Solutionsannounced the pricing and upsizing of a secondary public offering for its Series A Blockchain Common Stock at $32.00 per share, as detailed in a. The deal, led by Goldman Sachs, Morgan Stanley, and Cantor, includes a $10M share repurchase of Class A common stock by Figure.IRS REPORTING SHAKEUP LEAVES RETAIL INVESTORS WARY AHEAD OF TAX SEASON:While institutions find their footing, retail sentiment is being tested by new transparency mandates from the Internal Revenue Service.that a survey of 1,000 investors found over half are fearful of penalties related to the new Form 1099-DA, which requires brokers like Coinbaseto automatically report transactions. Despite these concerns, Wells Fargo analysts are predicting a massive liquidity injection, suggesting a "YOLO" trade could send $150B into risk assets like bitcoin and etherby the end of March as taxpayers receive larger refunds, per.PRICE ACTION:As of time of writing, bitcoin was trading at$67,191.01, while ether was trading at $1,972.89,.
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- Goldman CEO's Tokenization Insight: At the World Liberty Forum, Goldman Sachs CEO David Solomon emphasized that tokenization is critical for market evolution, and despite owning little Bitcoin, he believes traditional banks and crypto are not in a zero-sum game, which could drive transformation in the financial sector.
- NYSE Blockchain Platform Plans: NYSE President Lynn Martin revealed that the exchange is developing blockchain technology and plans to launch a 24/7 trading platform for tokenized stocks and ETFs later this year, breaking traditional trading hours and potentially attracting more investors.
- WLFI Price Breakthrough: WLFI token surged 17% after weeks of consolidation, breaking through the 20, 50, and 100-day EMAs, now challenging the 200-day EMA, indicating strong buying momentum that may further propel its price upward.
- Regulatory Changes in the Market: Solomon noted that excessive regulation over the past five years has hurt market efficiency, but with a loosening regulatory environment, Goldman may reconsider its involvement in digital assets, opening new opportunities for future market activities.
- Walmart Earnings Release: Walmart is set to report its quarterly earnings live from Nasdaq in Times Square, which is expected to have a direct impact on its stock price, especially as it has already fallen 6% from its 52-week high.
- Market Performance Analysis: The S&P 500 has risen 1.8% this week, although it remains the worst performer year-to-date, down nearly 4.3%, indicating market volatility and investor caution.
- Global Payments Strong Rebound: Global Payments shares surged 16% on Wednesday, driven by better-than-expected earnings and guidance, reflecting market confidence in its future growth prospects.
- Real Estate Market Dynamics: Cushman & Wakefield is set to report quarterly results, with its stock down 8% over the past three months, highlighting challenges in the commercial real estate market, and investors should pay attention to the upcoming pending home sales data.
- Bitcoin Investment Disclosure: Goldman Sachs CEO David Solomon revealed at the World Liberty Forum in Florida that he holds a 'very limited' amount of bitcoin as part of his personal investments, although he did not disclose the exact amount or duration, which could influence market confidence in Goldman’s stance on cryptocurrencies.
- Importance of Rule-Based System: Solomon emphasized the necessity of establishing a rule-based system for the operation of cryptocurrencies and related financial instruments in the U.S., believing this will help operate markets safely and soundly, reflecting Goldman’s concern for the regulatory environment surrounding cryptocurrencies.
- Bitcoin Market Dynamics: As of now, bitcoin is down 2.2% at $66,246, with market sentiment trending bearish, indicating a weakening investor confidence in bitcoin, which may impact Goldman’s future strategies in the cryptocurrency sector.
- Goldman’s Cryptocurrency Strategy: Despite Solomon's previous criticism of bitcoin as a speculative asset, Goldman Sachs has recently begun accepting cryptocurrencies and has formed a team to assess the implementation of stablecoins, indicating a strategic shift to capitalize on market opportunities.
Research Findings: Researchers at the Federal Reserve Bank of New York published an analysis that challenges the White House's narrative on tariffs.
Political Backlash: A Trump administration official has targeted the researchers following the release of their findings.
- Importance of Regulatory Framework: Goldman Sachs CEO David Solomon emphasized the critical need for a rules-based system for cryptocurrency and related financial instruments during his remarks at Davos, asserting that such a framework is essential for ensuring the safety and stability of U.S. markets and promoting long-term market health.
- Legislative Stalemate: Solomon's comments come as a Senate committee advances a cryptocurrency market bill aimed at establishing a national regulatory structure, yet the bill has stalled over disputes regarding whether digital asset companies can offer customer rewards, highlighting the complexities and challenges in the legislative process.
- Goldman's Market Positioning: While Solomon expressed a
- Necessity of Cryptocurrency: The Trump family was compelled to enter the cryptocurrency space after traditional banks closed hundreds of their accounts, with Donald Trump Jr. stating this was out of 'necessity' rather than innovation, highlighting their dissatisfaction with the traditional financial system.
- Goal of Financial Modernization: Eric Trump mentioned their aim to 'modernize finance' to prevent similar 'debanking' incidents from occurring again, reflecting their urgent need for reform in the financial system.
- Criticism and Controversy: The family's crypto venture has faced criticism, particularly from Senator Warren, who questioned their dealings with the Abu Dhabi royal family, labeling it as corruption and suggesting potential conflicts of interest, illustrating the complex relationship between politics and business.
- Democratization of Stablecoins: Donald Trump Jr. emphasized that stablecoins from World Liberty Financial can 'democratize' financial transactions, enabling those without traditional banking connections to secure loans, indicating their desire to improve financial accessibility through new technologies.










