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

The former Head of Product for “Marcus by Goldman Sachs” has launched a crypto investing app, “Domain Ventures,” raising $33 million from investors on Jan 25.

Adam Dell, brother of Dell computers tycoon Michael, assembled a team of 25 former staff members from Goldman Sachs. Other staffers are leaving their roles at Bridgewater Associates, Morgan Stanley, Coinbase Global Inc. and BlockFi. Former Goldman Sachs CTO Elisha Wiesel, and Christopher Giancarlo, thformer Chairman of the Commodities Futures Trading Commission have also been tapped to join the project.

The app is targeted at retail users, who will be charged an annual management fee of 1% for actively managed and curated investment plans. The app features real-time market intelligence, live customer agents as well as social sentiment analysis.

Gemini will facilitate the app’s crypto trading feature, and Apex Clearing will provide securities trading and custody.

Related: Goldman Sachs to offer Bitcoin futures trading in partnership with Galaxy Digital

Investors in the project include venture capital firm Bessemer Ventures and Marc Benioff, who is the co-founder of Salesforce.com Inc. Also Maveron, RRE Ventures, SV Angel and Joe Lonsdale

“Investors are looking for access to diverse asset classes, along with security, transparency, and the power to be in control of their finances,” said Dell in a Jan 25 announcement, adding that his mission is to grow his customers’ wealth.

“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.”

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Cryptovixens Source

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