Ethereum

Pacific

<p><strong>The thirst of major investors for crypto picks up again in 2024. However, this renaissance bodes ill for the freedom and decentralization promoted by this emerging ecosystem. Indeed, big banks like Goldman Sachs are preparing to swoop down on this new prey, ready to crush the founding ideals of virtual currencies.</strong></p>
<h2 id="h-the-wolf-of-wall-street-at-the-gates-of-the-crypto-sheepfold">The wolf of Wall Street at the gates of the crypto sheepfold</h2>
<p>The statements of Max Minton, head of crypto for Asia Pacific at Goldman Sachs, carry a sense of foreboding. According to him, many major customers are coming back, spurred by the recent approval of bitcoin ETFs bitcoin. However, this reappearance of the top predators is by no means a sign of adoption of the values of freedom and decentralization promoted by crypto.</p>
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<p>On the contrary, Goldman is only expanding its crypto derivatives offerings to lure even more prey into its nets. Cash options on bitcoin, Ethereum futures contracts, the finance of darkness unfolds its array to tie cryptos to the old humbugs of outdated financial systems.</p>
<p>Indeed, the resurgence of institutional capital amounts to a clear intention to take this once decentralized space under guardianship. By attracting speculative funds, hedge funds, and asset managers, banks claim an exorbitant market power.</p>
<h2 id="h-the-linchpin-of-a-recolonization-plan">The linchpin of a recolonization plan</h2>
<p>Beyond derivative products, Goldman Sachs’s grip reflects a much broader strategy aiming to reduce the advances of financial decentralization and to regain their hegemony.</p>
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<p>Massive investments in crypto infrastructure are but a Trojan horse. Once this technology is mastered, the architecture will fall under their control.</p>
<p>But the spearhead is embodied in initiatives like the GS DAP platform. Behind this cryptic office lies the plan for a <a href="https://www.bloomberg.com/news/articles/2024-03-24/goldman-s-hedge-fund-clients-get-more-active-in-crypto-options" target="_blank" rel="noopener noreferrer nofollow">total overhaul</a>, where assets would be tokenized on a private blockchain. A recolonization of this space by old finance.</p>
<p>The recent pilot operation proves it, connecting exchanges, banks, and managers over a private network. The dream of independence for crypto-pioneers is being stifled by a new cathedral that seems decentralized in appearance but is grounded in very real foundations.</p>
<p>Thus, by opening the door to <a href="https://www.cointribune.com/en/american-banks-offer-bitcoin-etfs-to-wealthy-clients/" target="_blank" rel="noopener noreferrer nofollow">institutional investors</a>, crypto-enthusiasts have only welcomed the undertakers of their libertarian utopia. For the insatiable appetite of these whales is to reduce the crypto sphere into a vast soulless body, subject to the dictates of monetary centralization. A large-scale recolonization, led by the builders of cathedrals that are decentralized in name only. A potentially inevitable transformation, to which only the most irreducible of rebels will continue to resist, before being crushed by this juggernaut.</p>
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Large crypto investors resurface! Goldman Sachs

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