Crypto Investing Startup Started by Goldman Alum Changes Strategy

Domain Money, launched just before the start of the crypto bear market, is moving from actively managed investments to a robo-adviser model.

AccessTimeIconOct 27, 2022 at 1:08 p.m. UTC
Updated May 9, 2023 at 4:00 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Crypto investing startup Domain Money, which was founded by Goldman Sachs veteran Adam Dell, is revising its business strategy, according to a document posted to the startup’s website.

The startup, which has raised $33 million in funding, was started in January at the tail end of a historic bull market that soon gave way to crypto winter.

  • How NEAR Enables Multichain Access From One Account
    00:56
    How NEAR Enables Multichain Access From One Account
  • Why the NEAR foundation Chose Eigenlayer as a Security Partner
    00:54
    Why the NEAR foundation Chose Eigenlayer as a Security Partner
  • Judge Kaplan Had 'No Love' for Sam Bankman-Fried, Legal Expert Says
    07:08
    Judge Kaplan Had 'No Love' for Sam Bankman-Fried, Legal Expert Says
  • How Bitcoin and Ether's Options Contracts Combined Expiry Could Spike Volatility
    01:11
    How Bitcoin and Ether's Options Contracts Combined Expiry Could Spike Volatility
  • In a document dated Sept. 20, Domain Money outlined plans to shift the business model from actively-managed investments that offered access to Domain Portfolios to an automated, robo-advisory service featuring access to existing exchange-traded funds (ETF).

    Domain Money halted the primary advisory services on Aug. 12, suspending the onboarding of new clients and the creation of new accounts. The new robo-advisory service was expected to launch within 30 and 60 days of the letter, though the startup said the launch could be staggered.

    The Information was the first to publish on the Domain Money woes and the document’s existence.

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Brandy Betz

    Brandy covered crypto-related venture capital deals for CoinDesk.


    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.


    Read more about