Hedge fund billionaire Steve Cohen exits crypto startup Radkl amid bear market: Report

Hedge fund billionaire Steve Cohen exits crypto startup Radkl amid bear market: Report


Steve Cohen, the founder of hedge fund Point72 Asset Management, has reportedly exited his investment in crypto trading firm Radkl.

According to a Tuesday report from Bloomberg citing a Radkl spokesperson, Cohen has reduced his exposure to crypto investments following his exiting the trading firm. However, the spokesperson reportedly said Radkl was still “extremely well capitalized with its current investors” and was continuing to grow.

Cohen, whose net worth was estimated at more than $17 billion, has backed crypto and blockchain projects both using his personal portfolio and through Point72. Cointelegraph reported in September 2021 that the hedge fund manager was part of a $50-million funding round for nonfungible token company Recur, and backed a $21-million round for crypto analytics firm Messari through Point72.

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