Cohen’s Hedge Fund Point72 Hires a “Crypto Head”

Point72, the one of the world’s most successful hedge funds, has hired crypto specialist Alan Safahi , who will join the firm’s digital asset desk. As reported by Coindesk, Point72 has a long history of hiring prominent figures in the crypto space. Point72 would be Safahi’s second stop in the crypto space in 2017. He earlier worked for the crypto investment firm Pantera Capital, which was founded by crypto investor Dan Morehead.

According to a report from CNBC, Point72 Asset Management has hired one of the top crypto traders and hedge fund managers in the industry to help their hedge fund with its cryptocurrency investments.

Point72 Asset Management, the hedge fund run by billionaire investor Steven Cohen, announced today that it hired its first “crypto head” to lead its digital asset trading strategy. The new hire is former Tiger Management trader and founder of cryptocurrency exchange EtherDelta Brian Klein, who will lead Point72’s trading in digital assets, the firm said in a statement.. Read more about crypto hedge fund and let us know what you think.

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Steve Cohen, a millionaire from New York, runs the hedge fund Point72, which has $22 billion in assets. As it prepares to enter the crypto industry, management is looking to recruit a “crypto head.”

Point72 is a venture capital strategy with approximately $22 billion in assets under management. With a healthy asset base, the company chooses to employ a “crypto head.” This action indicates that Cohen intends to put his money into the crypto realm. In addition, the New York Mets Major League Baseball club is owned by Point72’s founder and investor. 

Steve Cohen, the owner of the New York Mets, is seeking to recruit a “Head of Crypto” for his $22 billion hedge fund, Point72.

According to sources, the hiring order “reflected a degree of urgency in getting into the market.”

pic.twitter.com/NJtTv6xww3 (h/t @michael bodley)

30 June 2021 — Boardroom (@boardroom)

Furthermore, the appointment of a cryptocurrency division head by a multi-strategy hedge fund sends a good signal to Wall Street. As a result, Bitcoin and other digital assets in the market may be in for a positive period. 

Cohen, for example, said in a recent interview in May that he had completely switched to cryptocurrency. More specifically, the company is looking at cryptocurrency investments and blockchain possibilities. In addition, he claims,

“Bitcoin is irrelevant to me. I’m more interested in the blockchain technology itself, and how transformative and disruptive it might be. We’d be negligent if we ignored the crypto currency industry, which is currently worth $2 trillion.”

However, many companies are becoming more interested in digital assets and increasing their crypto investments. As a result of the buzz, Point72 is now allocating 3% of its conventional hedge fund assets to digital investments.

As a result, it is obvious that major institutions and investors are putting money into digital assets. This heightens the need for bitcoin and blockchain in the current and near future. 

As a result, Point72 is considering cryptocurrency investments, joining the increasing number of hedge funds and traditional financial institutions who are entering the crypto-ecosystem. 

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