Steve Cohen, the billionaire founder of hedge fund Point 72 Asset Management, has accepted a new cryptocurrency trading platform, the Wall Street Journal reported Tuesday.
A press release issued Tuesday said Cohen agreed in principle to personally invest in Radkl, a quantitative trading corporation targeting virtual assets, led by a team from York-based high-speed trading company GTS. Undisclosed radkl participation. He won’t be worried about day-to-day operations, according to a spokesman. The press release adds that Cohen will have no day-to-day involvement in the company’s operations.
“While the cryptocurrency market now represents a $2 trillion asset class, we are still in the early stages of institutional adoption,” Cohen said in a statement. corporate like Radkl. “
Billionaires like Cohen, as well as primary institutions, have helped propel the virtual asset market to new heights in 2021. A variety of primary banks, payment corporations and asset managers have dived into the area to offer encryption services for customers. .
The immediate expansion of the market has also caught the attention of regulators, and the head of the U. S. Securities and Exchange Commission is expected to be the head of the U. S. Securities and Exchange Commission. U. S. Secretary of State Gary Gensler puts cryptocurrencies at the most sensible time of his schedule when he addresses Congress on Tuesday.