Billionaire Hedge Fund Manager Steven Cohen to Invest in New Crypto Trading Firm: Report

Steven Cohen will invest in a new crypto trading firm in the billionaire hedge-fund manager’s latest bet on the cryptocurrency market.

• The New York Mets owner is set to make an investment in Radkl, a quantitative trading firm for digital assets, the Wall Street Journal reported Tuesday.
• Pronounced “radical,” Radkl launches today and is run by a team from high-speed trading firm GTS.
• A spokeswoman from Point72 Asset Management, Cohen’s hedge-fund firm, has said that Cohen is investing in Radkl in a personal capacity and won’t be involved in its day-to-day operations.
• Point72 has also been actively investing in the crypto market, and led a $21 million Series A funding round into data analytics platform Messari last month.
• Cohen’s forays into crypto go back to 2018, when he invested in cryptocurrency-focused hedge fund Autonomous Partners.

Read more: Financier Alan Howard Owns 5.8% of German Crypto Asset Management Firm Iconic Holding