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Breaking news: US Sanctions Enforcer Blacklists a Crypto Exchange for First Time

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

The New York Mets owner is set to make an investment in Radkl, a new quantitative trading firm for digital assets.

Sep 14, 2021 at 10:40 a.m. UTC
Updated Sep 14, 2021 at 6:07 p.m. UTC

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.

DISCLOSURE

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Jamie Crawley is a CoinDesk news reporter based in London.

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