Goldman Sachs’ head of crypto trading says investors are “coming back” to the bank to carry out crypto trades after being spooked by crises at digital assets firms such as FTX.

Andrei Kazantsev told Financial News that traditional hedge fund and asset manager clients had previously flirted with crypto firms, but are now reverting to institutions such as Goldman because of “counterparty risk” in the digital assets space. He said the process was a “flight to quality”.