Steve Cohen, a multi-billionaire, has sold his cryptocurrency trading startup Radkl investment.
The trading company had lost at most two of its managing directors before the hedge fund billionaire’s departure. These were Jim Greco (and Beatrice O’Carroll)
New York Stock Exchange (GTS) created the quantitative crypto trading company.
Radkl’s site lists five employees, O’Carroll being one of them. Bloomberg confirmed that O’Carroll had already confirmed her departure.
Bloomberg spokesperson said that Radkl is still extremely well-capitalized with current investors. Radkl continues to grow quickly.”
Cohen, a Wall Street giant who also owns New York Mets baseball club, was cited for his support of Radkl last September. His entry into crypto was also seen as an indication of traditional finance’s growing interest in the sector.
Cohen, however, is one of many crypto investors to have withdrawn from the sector in the wake of the slump in digital assets this year and a series crises like the LUNA collapse.
Apart from Radkl, Cohen also invested in crypto through his family office, Cohen Private Ventures. He participated in a round of funding last year for a non-fungible token.NFTFirm Recur.
According to the Wall Street Journal (WSJ) report, a Cohen spokeswoman stated that Radkl’s investment was made in his own capacity and not through Point72 Asset Management LP.
She also stated that Cohen would not be involved in startup’s day to day operations.
The WSJ reported that Point72’s venture capital arm had made investments in Messari, a crypto data and analytics provider, in August 2021.
Other hedge funds were also active during the boom year of crypto last year. billionaires Stanley Druckenmiller, Paul Tudor Jones, and Paul Tudor Jones Also Crypto was publicly accepted, which further This helped to fuel a rally for digital currencies.
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