Mets’ Owner Steve Cohen’s Firm Makes Big Crypto Investment

This photo from a Zoom press conference provided by the New York Mets shows New York Mets owner Steve Cohen, Tuesday, Nov. 10, 2020. (New York Mets via AP)

(TVNEWS.COM) Point72, the successor firm to Steve Cohen’s SAC Capital, announced in May was about to “get big” in the crypto space. A few months later, the firm posted a job opening for a head of crypto.

Now, Steve Cohen’s firm is ready to reveal the identity of its first major crypto bet: Point72’s venture arm (with equity indexes still at record highs, alternatives offer a much more attractive growth profile) has invested in the crypto-market data and intelligence firm Messari, Zero Hedge reported.

Point72 led the Series A funding round for Messari, which closed at $21MM. Adam Carson, an operating partner at Point72 Ventures, joined the Messari board as part of the deal.

It’s the first time Cohen has publicly backed a crypto company. Whether the Mets owner has any other crypto exposure remains unclear, Zero Hedge reported.

The announcement follows SEC chief Gary Gensler’s speech about his plans to bring new regulations to the crypto markets. Gensler’s point was that if crypto is going to see wider adoption, it needs more rules.

Sholom Schreirber

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