Steve Cohen opens up the hacker Acidphreak as the first trader for a crypto startup

Steve Cohen opens up the hacker Acidphreak as the first trader for a crypto startup

Steve Cohen has stopped the self-proclaimed cyber punk and reformed hacker "Acidphreak" as the first-and so far only-portfolio manager to lead investments for its new pure crypto asset manager.

Elias Ladopoulos, better known as "Acidphreak" from his time as head of the New York hacker collective "Masters of Deception", Cohens On-Chain Investments Unit in June, two sources familiar with the matter.

The sources granted to discuss sensitive businesses classified the attitude as "somewhat surprising" for Cohen and found that Ladopoulos had relatively few connections to Wall Street.

It indicates that Cohen, a hedge fund billionaire, grants priority, crypto-born in order to seriously-a departure from most digital asset deals. A number of competing multi-billion companies have turned to traditional financial talents with a certain crypto experience element in order to expand their business in this area.

A spokesman for Cohen who heads Point72 Asset Management and has strongly supported crypto startups via his family office and the risk capital arm of the multi-strategy hedge fund company, rejected an opinion.

"It is web3, and [Cohen’s] obviously connected in the room and knows how to do," said a source. "To be honest, hire tradfi [traditional finance] people who think they know that crypto is probably the stupid way."

"acidphreak" tried to take risk capital before working for Cohen

The Masters of Deception, referred to in a biography of 1995 as "The Gang that Ruled Cyberspace", developed innovative techniques to penetrate in private networks of large companies and finally get involved with authorities, including the FBI.

Ladopoulos has served as an estimated White Hat Hacker-former bad actors who were hired by companies and blockchain startups to search for weaknesses in their code-and act as a consultant for a number of top-class companies and even governments.

he "remains a leader and mentor for a younger generation of hackern", wrote Ladopoulos on his Linkedin His time as a "acidphreak" is: "Too much to explain here, google ..."

As a long-standing quantity and blockchain fan, Ladopoulos has already invested in risk capital through companies such as the Raptor Group. It also has extensive experience with artificial intelligence, including machine learning.

At Ein-Chain, Cohen, he commissioned him to support promising crypto startups and to expand the quantitative trade strategies for digital assets and derivatives of the company, Blockwork has learned. It is a time-consuming and costly process-especially in view of the rapid rate of the alpha drop in the industry, since the cryptoma markets have become more efficient.

An-Chain, which is still in the beginning, is a completely separate unit of Point72, Point72 Ventures and Cohen's personal family office, which itself has billions of dollars. There are no plans to accept debt from the leap, but sources called the initiative that Cohen allowed to build up a platform and snap talents that have become wealthier during the crypto bear market.

An-chain Investigation of the defi yield before the fusion

Conservative state asset companies that are suspicious of digital assets have led to the fact that multi-strategy operators, cryptocurrencies or even related derivatives, have led in connection with regulatory concerns-especially the uncertainty between the role of the SEC and Commodity Futures Trading Commission in the USA Flagship hedge fund umbrellas.

In addition to venture and spot investments, On-Chain plans to invest capital in Defiield-Farming opportunities and put games off, which leads to Ethereums with excitement to be expected to be excited to proof-of-stake, shared sources with.

Cohen also supported external managers through his family offices, in addition to the company's focus on direct risk investment. He has achieved a number of remarkable successes-and a failure (or two)-including the recent retreat from the proprietary digital asset dealer Radkl.

POINT72, for his part, has worked to build up their own internal blockchain-focused team. Traders there have already invested in crypto derivatives and institutional trust products, including the Bitcoin and ether vehicles from Grayscale Investments, GBTC and Ethe.

The company managed a fortune of $ 26.1 billion on July 1st.

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The article Steve Cohen Taps Hacker 'Acidphreak' as First Trader for Crypto Startup is not a financial advice.