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Billionaire Steve Cohen Invests in Autonomous Partners Blockchain Fund

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Steven Cohen, the billionaire behind Point72 Asset Management, has reportedly invested an undisclosed sum in Arianna Simspon’s blockchain hedge fund Autonomous Partners.

The investment came from Cohen’s private equity firm Cohen Private Ventures according to an anonymous source who spoke to Bloomberg. Cohen’s Point72 company recently recorded a portfolio value in excess of $24 billion.

Arianna Simpson is well known for her support of cryptocurrencies and started the hedge fund in December last year. The fund has also received investments from Coinbase, former Paypal COO David Sacks and Union Square Ventures, raising over $10 million so far.

Autonomous Partners focuses mainly on blockchain based projects, privacy coins and addressing challenges in the sector like scalability. A small part will also be aimed towards cryptocurrencies such as Bitcoin and Ethereum and decentralized exchange OX has received support from the fund.

In an interview with Fortune, Simpson spoke about the issues Ripple (XRP) has experienced regarding regulation and whether or not the SEC will class it as a security. She has held off from going forward with any Ripple investment at this time until further clarification has been reached.

There has been a significant reduction in the formation of crypto funds this year, with less than 30 funds being created recently as opposed to 175 last year. Earlier this year the SEC launched a probe into over 100 crypto hedge funds and new regulations threaten the closure of possibly ten percent of existing funds this year.

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