After FTX's failure, Goldman Sachs may buy crypto businesses.

Mathew McDermott, a Goldman Sachs official, said the business is researching crypto startups.

As crypto company valuations are harmed by the FTX catastrophe, Goldman Sachs wants to buy or invest in crypto firms while the prices are low.

Mathew McDermott, a Goldman Sachs executive, told Reuters that big banks see prospects in the market after the FTX collapse exposed the need for additional regulation.

The CEO noted that the firm is now evaluating "reasonably priced" crypto firms.

McDermott said the FTX scandal hurt market sentiment. The traditional finance executive said that although FTX became a "poster child," the industry's underlying tech "continues to perform."

The FTX liquidation issue and bankruptcy tale began in early November. FTX's failure continues to damage crypto-focused enterprises with exposure to the firm. Goldman is searching for opportunities to buy and invest at reduced costs as FTX lowers valuations.

A UK digital bank has banned crypto purchases. Customers can't buy Bitcoin or other cryptocurrencies. Users can't receive crypto exchange transfers either.

Some institutional stakeholders are seeking to enhance institutional adoption after the FTX failure. SEBA Bank teamed with HashKey Group on Dec. 6 to boost crypto adoption in Hong Kong and Switzerland.

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