The King has left the hedge fund constructing. Now, Steven Cohen, in any other case generally known as the ‘Hedge Fund King’, has entered the world of cryptocurrency. Sure, the headlines are true: Steven Cohen invests in a crypto hedge fund.
Steven Cohen Invests in Crypto Hedge Fund
Cohen, a Billionaire investor, remains to be technically concerned within the hedge fund business, however his newest funding is in a crypto-based hedge fund — a primary for Mr. Cohen.
On July 12, Fortune revealed an article which acknowledged Steven Cohen had invested in, via his VC agency, Autonomous Companions, which is – shock, shock – a crypto hedge fund.
Based final winter, Autonomous Companions focuses on small-cap currencies, significantly ones that act as normal objective cash. To Autonomous Companions, it’s all about creating the brand new era of economic infrastructure; to take action, the crypto hedge fund is investing in firms with this similar purpose.
Investing in a crypto hedge fund is a primary for the 62-year previous, nevertheless it’s not the primary time Cohen has invested in certainly one of Arianna Simpson’s tasks.
In 2015, Simpson’s Crystal Towers Capital enterprise fund acquired an funding from Cohen’s VC agency, Cohen Personal Ventures.
Are Crypto Hedge Funds the New Factor?
These hedge funds actually have garnered mainstream consideration as of late. For perspective, there are, at present, 249 crypto hedge funds which have opened up, and 70% of those funds opened in 2017.
Is This Stunning?
The crypto sector has had its justifiable share of ups and downs this 12 months. Final 12 months, the business was killing it, and this 12 months, there have been extra issues current. However, regardless of the worth drops and the lawsuits, hedge fund managers have continued to wade into the waters of crypto.
Some might even see this as a sign that the troubles that go along with the crypto sector aren’t sufficient to utterly put you off of it. With the current funding, it actually looks as if Steven Cohen feels this manner.
So, Steven Cohen invests in a crypto hedge fund, however will others comply with him? In spite of everything, Cohen is extraordinarily profitable, and a few could wish to comply with his lead. Others, then again, should be reluctant to comply with within the traders lead, after he was charged in 2013 with failing to stop insider buying and selling.
What do you assume?
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