Home News Ex-Goldman Sachs banker launches crypto app after $33M raise

Ex-Goldman Sachs banker launches crypto app after $33M raise

5480
0

On January 25, the former Head of Product at “Marcus by Goldman Sachs” established “Domain Money,” a cryptocurrency investment software that raised $33 million in funding.

In fact, Michael Dell’s brother, Adam Dell, assembled a team of 25 former Goldman Sachs workers. Employees are leaving firms like Bridgewater Associates, Morgan Stanley, Coinbase Global Inc., and BlockFi. Elisha Wiesel, a former Goldman Sachs CTO, and Christopher Giancarlo, a former Chairman of the Commodities Futures Trading Commission, also invited.

Retail users will be charged a one-percent yearly management fee for actively managed and tailored investment plans through the app. Real-time market intelligence, live customer support, and social sentiment analysis are all included in the app.

Apex Clearing will provide securities trading and custody, while Gemini will help with the app’s crypto trading.

Venture capital firm Bessemer Ventures and Salesforce.com Inc. co-founder Marc Benioff are among the project’s backers. Maveron, RRE Ventures, SV Angel, and Joe Lonsdale are also investors.

“Investors want access to a variety of asset classes. As well as security, transparency, and the ability to manage their finances,” Dell said in a Jan 25 release. Adding that his objective is to help his customers grow their wealth.

“We created Domain Money to give investors a sophisticated, straightforward, and all-encompassing platform. In order to invest in crypto as a core component of their portfolios, not as a curiosity.”

Goldman Sachs says blockchain is key to metaverse

Previous articleMicroStrategy will continue to buy Bitcoin despite market plummeting
Next articleFitch Ratings: Mining development creates risks for US power supply