Steve Cohen, a billionaire from hedge funds, who invested in Radkl, a crypto startup, made Wall Street headlines. He has since reportedly abandoned the investment. Bloomberg.
Cohen invested in the crypto-company in September 2017.
Radkl still ‘well capitalised’
Radkl spokesmen confirmed the report. They noted that Point 72 Asset Management founder Point 72 Asset Management left, but the startup was still capital-wise in a good place.
The source also claimed the quantitative trading platform, which launched its services in 2021, is still ‘well-capitalised’ and has major support from existing investors. The spokesperson also stated that the startup is experiencing significant growth.
Radkl was founded out of GTS (the New York Stock Exchange market maker) and offers new services. Prop trading for digital assets. The platform experienced massive growth amid last year’s bull run, but like the larger crypto market, hit some lull amid the crypto winter.
Its growing pains included the departure of Jim Greco, its pioneering managing director, and three other people. Jason Bell, Allan Erskine, and Beatrice O’Carroll have all exited over the past seven months.
As well as Radkl, Cohen’s other crypto investments include NFT project Recur and participation in a funding round for blockchain analytics provider Messari