<p>Steve Cohen — the hedge funder and owner of the New York Mets — announced his latest bet in the crypto market: a new trading shop, called Radkl. </p> <p>Cohen — who's been ramping up his activity in the crypto market through his family office and hedge fund, Point72 Asset Management — has agreed to be an investor in the new venture, but the deal has not officially closed, according to a spokeswoman. Cohen will not be involved in the firm's day-to-day operations, she added. </p> <p>In May, The Block <a href="https://www.theblockcrypto.com/post/104522/steve-cohen-point72-crypto-market">reported</a> that Cohen and Point72 were poised to make a "big" move into crypto. Since then, Point72's venture arm has backed Messari in its Series A fundraise. Steve Cohen also has invested in Digital, an investment vehicle in the non-fungible token market. </p> <p>Radkl, which will engage in various types of trading strategies, was born out of trading firm and New York Stock Exchange market maker GTS and is led by Ryan Sheftel, a partner at the firm. Other employees at Radkl include high-speed trading guru Jim Greco, who leads the quant trading group. Greco is a board member at Gemini and previously held positions at Jefferies and KCG. </p> <p>Radkl plans to be an electronic market maker across crypto exchange venues and also trade on a bilateral basis with other market participants, as per <a href="https://www.wsj.com/articles/steven-cohen-to-invest-in-crypto-quant-trading-firm-11631611803">the Wall Street Journal</a>. </p> <p><i data-stringify-type="italic">For more breaking stories like this, make sure to subscribe to The Block on </i><i data-stringify-type="italic"><a class="c-link" href="https://t.me/the_block_crypto" target="_blank" rel="noopener noreferrer" data-sk="tooltip_parent">Telegram</a></i><i data-stringify-type="italic">.</i></p>