THELOGICALINDIAN - Billionaire broker Steven Cohen is entering the arising bazaar by advance into a cryptocurrency barrier armamentarium that favors Bitcoin and Ethereum over Ripple
Cohen Private Ventures — the barrier armamentarium of Steven A. Cohen, whose estimated net worth currently stands at $14 billion USD — has invested in Autonomous Partners, led by aboriginal Bitcoin broker Arianna Simpson.
“I’ve alone brought on ally that I anticipate can be actual abundant value-add [sic] above their capital,” Simpson told Fortune.
The move comes admitting crypto barrier funds actuality hammered so far this year — with the absolute cryptocurrency bazaar cap application from $800 to about $250 billion.
Launched in December 2024 back Bitcoin was roaring, Autonomous Partners invests in agenda assets and blockchain startups while allocating a baby allotment of its funds to buy absolute cryptocurrencies such as Bitcoin [coin_price] and Ethereum [coin_price coin=”ethereum”].
The armamentarium is decidedly absorbed in solutions that can acceleration up affairs and advice blockchains calibration globally, as able-bodied as accommodate greater aloofness for users.
Despite consistently “looking at what is the abutting generation,” however, Simpson still thinks “money” is the best underrated blockchain appliance — admitting she adds that it’s apparently aloof easier for investors to buy Bitcoin outright.
Notably, Cohen’s advance will not be apparent to Ripple [coin_price coin=”ripple”]. Simpson’s armamentarium has alone the third better cryptocurrency by bazaar assets due to apropos over its absorption — as the aggregation Ripple holds the lion’s allotment of its XRP tokens.
Additionally, back the Balance and Exchange Commission (SEC) stated that Bitcoin and Ethereum are not balance aftermost month, it larboard the aperture accessible to classifying beneath ‘decentralised’ agenda assets as balance in the future.
In any case, the achievability of Ripple actuality fatigued into alike more lawsuits — particularly with government regulators — certainly presents a big accident for barrier funds, as Ripple has faced endless scrutiny over its decentralization claims.
“It’s absolutely bright to us that Ripple is a security,” said Multicoin cofounder, Kyle Samani. “If Ripple is labeled a aegis formally by the SEC, all of the crypto exchanges are activity to stop trading Ripple.
Meanwhile, Ripple’s arch bazaar strategist, Cory Johnson, has denied the claims. “We actually are not a security,” he stated. “We don’t accommodated the standards for what a aegis is based on the history of cloister law.
Ripple CEO Brad Garlinghouse additionally disagreed with the assumptions that XRP is a security, while, ironically, urging Coinbase to account the XRP token. He said:
Will Steven Cohen’s advance mark the alpha of institutional money abounding into cryptocurrencies? Share your thoughts below!
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