Billionaire Investor Steven Cohen Joins Crypto Hedge Fund

Billionaire hedge fund manager Steven Cohen has joined the ranks of financial juggernauts participating in the cryptocurrency feeding frenzy, announcing an investment in a new hedge fund focused on cryptocurrency investment and blockchain startup equity.

Cohen, who ranks as 8 on the Forbes 400 Self-Made Score and currently oversees Point72 Asset Management, a $12 billion hedge fund firm, has made a strong move towards the cryptocurrency and blockchain ecosystem with an investment in crypto-focused hedge fund Autonomous Partners.

The hedge fund magnate has made a significant leap into the crypto ecosystem via Cohen Private Ventures, backing Autonomous Partners' financial exploration of the blockchain industry.

In addition to capturing support from Cohen, Autonomous Partners has also raised capital from both Union Square Ventures and Coinbase CEO Brian Armstrong.

Autonomous Ventures, spearheaded by venture capitalist Arianna Simpson, launched in December 2017 and is focused primarily on blockchain platforms that aim to optimize transaction speed and scalability, develop cryptocurrency infrastructure, and privacy coins that deliver anonymous ownership.

Simpson states that Autonomous Ventures has already invested in 0x protocol, highlighting the need for blockchain platforms and services that will outlast regulatory paradigm shifts.

The rising wave of institutional investment, led by hedge funds such as Autonomous Ventures, is beginning to enter the cryptocurrency market as platforms begin to adopt business practices and develop the infrastructure supporting traditional financial structures.

Coinbase Custody, aimed squarely at institutional investors, has already captured 10 investors - resulting in a capital injection of $100 million into the crypto market.

"Cryptocurrency is still a relatively small part of the trading market, but this survey indicates this niche segment is starting to enter the mainstream of the financial services industry. This is a major change from a year ago. The current priority for our clients appears to be seamless access to news and data around cryptocurrencies to facilitate informed trading decisions."

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