Hedge fund billionaire Steve Cohen exits stake in crypto trading startup Radkl - report

Billionaire hedge fund manager and New York Mets owner Steve Cohen has abandoned his investment in crypto trading firm Radkl, Bloomberg reported Tuesday, citing a spokesperson for the startup.Radkl was formed in 2021 by New York Stock Exchange market maker GTS at a time when the crypto market was at its heights. But now the space is experiencing a slump in token prices in the face of mounting recession fears and a shortage in liquidity.Nevertheless, "Radkl remains extremely well capitalized with its current investors and continues to grow rapidly," the spokesperson wrote wrote in an email, as quoted by Bloomberg.Radkl and Point72 did not immediately respond to a request for comment from Seeking Alpha.Point72, the Wall Street titan's hedge fund, reportedly planned to dive into crypto from its venture capital unit last year.Towards the end of June, The Wall Street Journal reported that Sam Bankman-Fried's FTX was in talks to invest in crypto lender BlockFi.