Hedge fund billionaire Steve Cohen is laying the groundwork for an investment firm focused exclusively on cryptocurrency, according to four sources familiar with the matter.
Though the new entity is in its early innings, sources said the business plans to trade spot cryptocurrencies — a segment Cohen’s multi-strategy hedge fund firm, Point72 Asset Management, has yet to touch. It would also trade digital asset derivatives, as well as look to write checks to outside digital asset-focused hedge fund managers, including possible seed deals.
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