Billionaire Steven Cohen Invested in Crypto Via Hedge Fund

July 17, 2018

A legend of American investor and trader Steven Cohen, better known as "Hedge Fund King", became another billionaire to invest in digital currencies.

As Fortune informs, Cohen invested into crypto hedge fund Autonomous Partners via his venture company Cohen Private Ventures. The fund was established in December last year by Arianna Simpson, one of the most prominent and prosperous women in the world of blockchain and cryptocurrencies. Her fund has gained attention of many big men including the head of Coinbase Brian Armstrong and investment companies like Union Square Ventures and Craft Ventures.

Cohen’s investment volume is unknown today. As Simpson says, today her fund is focused primarily on small cryptocurrencies of new generation. Thus, the fund invested in the 0x Protocol (ZRX) project, a decentralized blockchain protocol for ERC20 token exchange.

“It's still up in the air if people want to do a number of thing on the blockchain. We're still figuring out what needs one and what doesn't. But It's clear they want to trade, and they want to play games”, Simpson told.

But Autonomous Partners does not leave large cryptocurrencies aside, so the fund portfolio includes BTC and ETH. Given all this the fund yet does not invest in the third major one, XRP. According to Simpson, the problem is in centralized nature of the token and its security-like status at SEC.


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