Steve Cohen is backing a new crypto trading shop

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. 

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. 

In May, The Block reported 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. 

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