Billionaire Steven Cohen exits investment in quantitative trading startup Radkl

U.S. hedge fund manager Steven Cohen has pulled out his investment from crypto trading firm Radkl, Bloomberg News reported Aug. 2.

Cohen, who owns the New York Mets of Major League Baseball, had invested an undisclosed amount in Radkl in September 2021.

At least four managing directors also departed from Radkl in 2022, including Jim Greco, Allan Erskine, Jason Bell, and Beatrice O’Carroll, according to Bloomberg.

Bloomberg also reported that Radkl’s website listed five employees, one of whom confirmed to the news outlet that she had left. However, CryptoSlate found that Radkl’s team page had been deleted as of the time of writing.

A Radkl spokesperson told Bloomberg via email:

“Radkl remains extremely well capitalized with its current investors and continues to grow rapidly.”

Quantitative trading startup Radkl was founded in 2021 by New York Stock Exchange market maker GTS. Cohen had invested in the firm in a personal capacity and was not involved in the day-to-day operations, according to the press release announcing Cohen’s investment.

Cohen has made other investments in the crypto sector. Metaverse investment platform DIGITAL, which was co-founded by Cohen, led a $50 million funding round in non-fungible token platform Recur in September last year.

In August 2021, Cohen’s hedge fund, Point72 Ventures, led a $21 million funding round in crypto intelligence firm Messari.