Former Goldman Sachs Exec Adam Dell Introduces a New Crypto Investment Platform

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Adam Dell – for­mer Head of Prod­uct at Mar­cus by Gold­man Sachs – launched a new wealth-build­ing plat­form focused on both cryp­tocur­ren­cies and stocks. The project is called Domain Mon­ey and aims to grant investors oppor­tu­ni­ties such as more con­trol and access to their assets, real-time intel­li­gence, and live cus­tomer agents.

The Birth of Domain Money

Ahead of going live, the new invest­ment plat­form, which tar­gets retail users, raised $33 mil­lion from investors, includ­ing Besse­mer Ven­tures, SV Angel, RRE Ven­tures, Maveron, and oth­ers. Its devel­op­ers are Adam Dell and oth­er team mem­bers behind Mar­cus by Gold­man Sachs.

Adam Dell – whose broth­er is Michael Dell (CEO of Dell Tech­nolo­gies) – revealed that Domain Money’s mis­sion is to “build consumer’s wealth.” He said the team behind the project “uti­lizes time-test­ed invest­ment strate­gies” to cre­ate the best envi­ron­ment for new and expe­ri­enced investors.

The Amer­i­can added that users seek secu­ri­ty, trans­paren­cy, and pow­er to con­trol their finances when invest­ing. As such, his plat­form will aim at those fea­tures and more:

“We devel­oped Domain Mon­ey to pro­vide investors a sophis­ti­cat­ed, intu­itive, and holis­tic plat­form to invest in cryp­to, not as a nov­el­ty, but as a core com­po­nent of their portfolios.”

The com­pa­ny will have promi­nent advi­sors behind it. These include Christo­pher Gian­car­lo – for­mer Chair­man of the Com­modi­ties Futures Trad­ing Com­mis­sion (CFTC), Do Kwan – Founder of Ter­ra Net­work, and Niall Fer­gu­son – Senior Fel­low at the Hoover Institution.

Investment App Betterment Wanted to Provide Crypto Services

The New York-based invest­ment appli­ca­tion with over 650,000 cus­tomers and near­ly $30 bil­lion of assets under man­age­ment – Bet­ter­ment – revealed last year plans to add cryp­tocur­ren­cy ser­vices for its clients.

Back then, the Chief Exec­u­tive Offi­cer at the com­pa­ny – Sarah Levy – spoke about the noto­ri­ous volatile nature of the asset class. How­ev­er, she assert­ed that her com­pa­ny could reduce the risks of deal­ing with dig­i­tal cur­ren­cies by edu­cat­ing its users on the matter:

“We know investors increas­ing­ly have an inter­est in cryp­to, so what we’re doing is real­ly try­ing to fig­ure out: Is there a way that we can offer cryp­to with a guid­ed wrap­per so that we can help edu­cate along the way?”

She labeled bit­coin and the alter­na­tive coins as “coun­ter­cycli­cal,” mean­ing they per­form well even when the econ­o­my pass­es through harsh times. Speak­ing on a per­son­al lev­el, she said she is a “big fan of cryp­to” and advised investors to adopt the pop­u­lar HODLing strat­e­gy to ben­e­fit the most from the asset class.

Accord­ing to the offi­cial site of Bet­ter­ment, though, the orga­ni­za­tion has not added cryp­tocur­ren­cy options for its cus­tomers yet.

Fea­tured Image Cour­tesy of Bloomberg

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