Goldman Sachs has hired crypto trader Justin Schmidt as vice president of digital asset markets of their securities division in order to help clients navigate cryptocurrencies, Bloomberg reports today, April 23.
Schmidt, an MIT Computer Science Masters graduate, had previously worked at financial institutions WorldQuant LLC, LMR Partners, and Seven Eight Capital. His LinkedIn laconically shows him working in “Crypto” since 2017.
Goldman Sachs spokesperson Tiffany Galvin-Cohen said in a statement that “in response to client interest in various digital products, we are exploring how best to serve them in the space [...] We have not reached a conclusion on the scope of our digital asset offering.”
Rumors that Goldman Sachs was considering opening a crypto trading desk were refuted by CEO Lloyd Blankfein this January, but the bank has owned a stake in one since 2015.
More recently, former Goldman Sachs executives have left the traditional financial bank to join crypto-related businesses. An ex-Goldman Sachs vice president joined crypto wallet Blockchain.com last week, and another Goldman Sachs exec reportedly left to join former Wall Street exec Mike Novogratz’s crypto merchant bank earlier this month.