Wall Street investment bank Goldman Sachs is weighing the acquisition of a cryptocurrency company, Reuters reported on the 6th (local time).

Matthew McDermott, head of digital assets at Goldman Sachs, told Reuters that Goldman Sachs is looking for an opportunity to start a business in the cryptocurrency market and plans to spend tens of millions of dollars on acquiring or investing in cryptocurrency companies. It is explained that they are investing in a situation where the value of the virtual currency industry has fallen due to the collapse of FTX.

McDermott said he was conducting due diligence on virtual currency companies, but declined to comment on related details. He stressed that the collapse of the FTX has increased the need for reliable market participants. In an interview last month, he said, “We are seeing an interesting opportunity that has been priced much more reasonably.”