On Wednesday, digital currencies experienced sharp pullbacks on news of Goldman Sachs Group Inc’s postponing its plans of setting up a cryptocurrency trading desk.
Bitcoin lost more than -3% in around 10 minutes, followed by sharp declines in Litecoin, Ethereum and Ripple. Ethereum fell by as much as -12%. A Business Insider report, citing people familiar with the matter, indicated that Goldman Sachs has moved down the position of its cryptocurrency trading desk plan on its priority list for now.