Global investment bank Goldman Sachs has revised its interest rate hike prediction for the upcoming Federal Open Market Committee (FOMC) meeting in March. In a note to clients on Sunday, the bank’s economists, led by its chief economist Jan Hatzius, detailed:In light of the stress in the banking system, we no longer expect the FOMC to deliver a rate hike at its next meeting on March 22.

Swiss Bitcoin platform, Relai has raised $4.5 million to strengthen its grip on the crypto onramp market.

Nishad Singh, former engineering chief of bankrupt cryptocurrency exchange FTX, pleaded guilty to fraud and several other criminal charges at a hearing on Tuesday related to the collapse of the company, Bloomberg reported.

Goldman Sachs’ digital assets unit is reportedly open to bolstering its 70-strong team, despite a massive cost-cutting exercise at the firm last month that will see 3,200 employees clear their desks. Mathew McDermott, Global Head of Digital Assets for Goldman Sachs said the bank remains “hugely supportive” of exploring blockchain applications and that the digital asset division will hire “as appropriate” this year. The executive made the comments in Hong Kong to Bloomberg last week, noting that the digital assets team has grown from just four staff members in 2020 to around 70 today. (Cointelegraph)

Goldman Sachs said in a note Thursday that it now expects the U.S. central bank to raise interest three more times this year after data released Thursday pointed to persistent inflation and a resilient labor market. The bank, which previously predicted 25-basis-point rate increases in the Fed’s March and May meetings, now expects another rate hike in June. 

Documents filed Wednesday in Delaware’s US Bankruptcy Court list thousands of potential FTX creditors, though lawyers said the names within the documents are not necessarily significantly tied to the company.

US Bank, Goldman Sachs, has announced plans to lay off 3,200 workers, starting this week. Falling 2% short of its intended cut-back, close to 629 workers will heave a sigh of relief as they continue to keep their jobs alongside the rest 45,300 workers who make up the bank’s total workforce. The bank, disclosed the decision on Tuesday, adding that such measures are crucial in the face of unfavourable market conditions.

Goldman Sachs recently announced that the bank’s new Digital Asset Platform, GS DAPTM, is live– one year into their engagement of Digital Asset.

Goldman Sachs plans to splash “tens of millions of dollars” on investments or buyouts in crypto firms after the FTX collapse hit last month and suppressed investor interest.

Goldman Sachs has revealed it expects gold to outperform the flagship cryptocurrency Bitcoin ($BTC) over the long-term over its demand drivers, while expecting the cryptocurrency to be more influenced by tighter financial conditions.