Billionaire Steve Cohen Exits Crypto Startup
Billionaire hedge fund manager and New York Mets ownerSteve Cohenhas exited his investment in cryptocurrency startupRadkl.
What Happened:A spokesperson from the company toldBloombergthat the quantitative crypto trading firm remains well capitalized despite Cohens departure.
Earlier this year, two of the firms managing directorsJim GrecoandBeatrice OCarrollleft the company.
A representative from Cohens hedge fundPoint72 Asset Managementdeclined to comment on the development to Bloomberg.
Cohen was one of the heavyweight Wall Street investors that jumped into crypto-related investments during the bull run last year. The investor first announced his investment in Radkl in September 2021 whenBitcoinBTC/USD was trading above $48,000.
Two months later, BTC went on to hit an all-time high ahead of $69,000. At press time, the leading digital asset was trading at 66% below its peak at $22,925.
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