Hedge Funds Magnate Steve Cohen To Join The Decentralized Era
Steve Cohen, who ran S.A.C. Capital Advisors which is one of the most successful Hedge Funds ever has contributed Autonomous Partners, another hedge stock investments that is gaining both cryptocurrency and value in blockchain-related organizations. Cohen Private Ventures, which was propelled by Cohen’s family office in 2010 has invested in this initiative.
Autonomous Partners which is headed by an early cryptographic-money devotee and venture capitalist Arianna Simpson. It was launched in December and incorporates subsidizing in the low eight digits from financial specialists, for example, Coinbase CEO Brian Armstrong, Union Square Ventures, and Craft Ventures. In speaking about investors, Simpson told Fortune: “I’ve only brought on partners that I think can be very much value-add beyond their capital”
Autonomous Partners is concentrating on regions where it sees long haul need that it that will surpass the ongoing spate of administrative vulnerability in the space. This is because of the inception and vulnerability of the cryptocurrency industry. She has developed an interest in firms that aim to accelerate the transactional speed of funds, those which are working in the crypto-infrastructure domain, coins which consider anonymity of users, and organizations seeking to scale the Blockchain ecosystem. For instance, she has invested in, 0x, a protocol built on the Ethereum Blockchain Ecosystem which allows decentralized transactions. Moreover, they will also dedicate some percent of funding for large-cap cryptocurrencies like Bitcoin and Ethereum. However, Simpson added that: “I am also looking at what is the next generation”.
On the other side, XRP tokens which are the third largest cryptocurrency by market capitalization (majorly-owned by Ripple) has been left out of fundings because Simpson speculated that the SEC may adjudge tokens as securities and hence XRP may have to face legal trouble. “I have a lot of concerns about the level of centralization there, and I have regulatory concerns if what they have issued is a security,” she said.
Ripple CEO Brad Garlinghouse stated that: “I don’t think that our ownership of XRP gives us control,” “Saudi Arabia owns a lot of oil—that doesn’t give them control of oil.”
The opening of Autonomous Partners comes in the midst of a burst of blockchain-related use-cases like ones in the logistics sector, insurance sector, and music. But, Co-Founder of Apple, Steven Wozniak stated that: “It was a bubble, and I feel that way about blockchain”.
Despite all these uncertainties and quarrels, Simpson anticipates that Blockchain will be a long-term winner. She quoted that: “I think the whole space is still waiting for a bit more clarity.”