Hedge fund billionaire joined crypto market

Steven Cohen, better known as the “Hedge Fund King”, recently has enter the crypto market. Cohen through his venture capital firm, Cohen Private Ventures, made a significant investment in cryptocurrency-focused hedge fund Autonomous Partners, as was stated in the Fortune article published on the 12th July. The amount of the investment is not revealed yet.

Arianna Simpson, a venture investor with a considerable crypto background, is the founder of the Autonomous Partners. The mentioned above crypto fund has already secured investments from some of the major players, including Coinbase CEO Brian Armstrong, Union Square Ventures and Craft Ventures.

This is not the first investment made by Cohen in Simpson’s projects. In 2015, her venture fund, Crystal Towers Capital, also received a huge investment from the Cohen Private Ventures. Analyzing the most recent projects, which had received investments from the above-mentioned firm, it can be determined that the main focus of this firm are next generation startups, including crypto branch projects.

During this year cryptocurrency-focused hedge funds have rapidly grown in numbers, as entrepreneurs are trying their best to satisfy the increasing demand from traditional investors. Simpson suggested that among blockchain's many use cases, two were not in doubt:

"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."

She also expressed concerns about regulations in crypto sphere, as she is convinced that this is the only fact that can significantly affect the subsequent development in this area.

A big investment such as Cohen’s will positively affect crypto industry, hence stay with Offshorelicense to be up-to-date on the latest news in this sphere.