Brevan Howard has been ramping up its crypto operations.
The hedge fund—which is led by billionaire Alan Howard—has set aside $250 million to make investments in the crypto space through its BH Digital unit, according to Bloomberg News.
The hedge fund has also made some key hires, including former Jump Capital partner Peter Johnson. The firm also hired Cem Paya—who formerly lead security at crypto exchange Gemini—as chief security officer, an unnamed source told Bloomberg. Johnson will join BH this quarter, and Paya already started last month.
In total, Brevan Howard manages $18.4 billion in assets as of the end of last year, according to Bloomberg. As previously reported by The Block, BH Digital was launched last year.