Major American Financial Advisory Firm Enters Crypto

Betterment has acquired crypto-based robo-investment manager Makara.
The acquisition marks Betterment’s official entry into the crypto investment segment.
Betterment is the largest independent financial advisory firm in the US.

Prominent financial advisory firm Betterment revealed that it has acquired crypto portfolio manager Makara. This recent acquisition makes Betterment’s official foray into the crypto market.

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Through Makara, Betterment will begin offering crypto investment options to its customers. As an innovative investment advisory platform, Makara will provide data-driven robo-investing services for cryptocurrency investors.

Sarah Levy, CEO of Betterment, said in a press release:

“Makara is to crypto today what we are to traditional investing, since pioneering robo-investing a decade ago.”

Betterment is arguably the largest independent financial advisory company in the US with more than 700,000 clients. The firm’s entry into crypto follows its triple-digital growth in net deposits in the last year, alongside a successful Series F funding round.

In other news, the entire crypto market has returned to the $2 trillion territory. The market recovery is due to multiple positive news in the crypto space, including Russia’s decision to recognize crypto as a legitimate form of money. Meanwhile, US officials have finally succeeded in retrieving $3.6 billion of crypto from the Bitfinex hack way back in 2016.