Crypto Investing Startup Domain Money Is Revising Its Business Strategy
According to a document posted on the organization’s website, Domain Money, a cryptocurrency investing startup established by Goldman Sachs veteran Adam Dell, is altering its business approach.
The $33 million-funded firm was founded in January, at the tail end of a record bull market that quickly gave way to crypto winter.
Domain Money stated intentions to transition its business model from actively-managed investments that provided access to Domain Portfolios to an automated, robo-advisory service that provided access to existing exchange-traded funds (ETF) in a document dated September 20.
The Information was the first to report the Domain Money matters and the document’s existence.
On August 12, Domain Money ceased key advising services, including onboarding new customers and opening new accounts. The new robo-advisory service was planned to emerge 30 and 60 days after the letter was sent, though the firm stated that the rollout might be staggered.
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