There are all kinds of exciting moves taking place in the crypto space. Check out the latest reports about the startup created by Goldman Sachs veteran.
Domain Money changes strategy
It’s been just revealed that the crypto investing startup Domain Money, which was founded by Goldman Sachs veteran Adam Dell, is revising its business strategy.
These are the latest reports, according to a document posted to the startup’s website.
The startup has reportedly managed to raise $33 million in funding. It’s also worth noting that this was started in January at the tail end of a historic bull market that soon gave way to crypto winter.
Accoridng to the reports coming from CoinDesk, “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 (ETFs).”
Goldman Sachs in the news
Macro guru Raoul Pal said that he believes with a high degree of certainty that the bottom for the crypto markets is in.
In a new interview with asset management firm Arca, the former Goldman Sachs executive says that the macroeconomic environment that has kept the crypto market bearish for most of the year is beginning to change its course.
“For me, the macro is rolling over. By that, I mean we’re going into recession. We should see things like the ISM (institute for supply management) survey and other things start falling apart pretty quickly. The forward-looking elements are falling apart already.”
He continued and said: “We’re seeing it globally. So that’s growth evaporating.”
The crypto market is making efforts to recover following the recent price losses. Now, Bitcoin seems to be racing towards the important level of $21k, and most of the important coins are trading in the green.