Crypto Wealth Management: A New Era for Rich Families

Crypto is changing how wealthy families manage their money. A company called Digital Ascension Group helps rich people handle their crypto investments. They do everything from planning for the future to dealing with taxes. Their clients include families with lots of money and even some who made big profits from memecoins. One of their clients turned a small investment into almost half a billion dollars by trading memecoins. This person used special software to buy and sell these coins quickly. Eventually, they started working with Digital Ascension to manage their money better. The company helped them invest in XRP, another type of cryptocurrency, and they made a lot of money from it. Digital Ascension started because the CEO, Jake Claver, saw a need for better crypto wealth management. He noticed that traditional wealth advisors didn't understand crypto. So, he started his own company to fill that gap. Now, they manage about $1 billion in crypto assets for wealthy families. They offer a wide range of services, including estate planning, taxes, and accounting. They also help families invest in different cryptocurrencies and earn returns on their assets. All of this is done in a regulated and secure way, using institutional custody and insurance. One of the key aspects of their service is custody, which is handled by Anchorage, a regulated crypto safekeeping firm. This means that clients' assets are always their own and are protected. They can also set up beneficiaries and add multiple signers to manage the assets. Crypto investments can be risky, but they have created a lot of wealth for investors. The number of crypto millionaires has been growing rapidly. However, there is a lack of professional advice and management services for crypto wealth, which is where Digital Ascension comes in. Interestingly, it's often the younger members of wealthy families who are leading the way in crypto investments. They are the ones educating their parents and grandparents about digital assets. Digital Ascension often starts by talking to these younger family members and then moves on to the elders. The company helps families invest in different cryptocurrencies and manage their existing crypto holdings. They also provide planning and security for these assets. Claver admits that managing large amounts of money is different from managing smaller amounts. When you have hundreds of millions or even billions of dollars, you need a different approach.