Crypto is considered not the right place to store assets as investments

Goldman Sachs launched its crypto trading desk in 2021. The bank currently offers cash-settled bitcoin and ether options trading along with CME-listed bitcoin and ether futures contracts. It does not directly trade the underlying crypto assets.

Cryptocurrency's appeal for some people stems from a distrust of traditional financial institutions. Critics argue central banks, like those that eased monetary policy before the 2008 crisis, have eroded confidence in the dollar and other fiat currencies.

However, advocates like Mossavar-Rahmani believe that the government, despite its occasional mistakes, plays an important role in society.

He also raised concerns about the potential use of cryptocurrencies for criminal activities. Mossavar Rahmani emphasized that law enforcement and a system of checks and balances are important.

“Everyone proclaims the democratization of finance, but the main decisions are ultimately driven by a few people in control,” said Mossavar Rahmani.

Although Mossavar-Rahmani is skeptical of crypto and bitcoin, Goldman Asia Pacific head of digital assets Max Minton, said last week many of the global investment bank's biggest clients are active or are exploring becoming active in the crypto world. Goldman Sachs' head of digital assets, Mathew McDermott, also stated that his company is seeing more institutions jumping into the crypto space.