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Steve Cohen-backed start-up bets on 24-hour trading so investors can react instantly to tweets
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cnbc.comHedge-fund billionaire and NY Mets owner Steve Cohen has invested in a crypto start-up that aims to launch a stock exchange with 24-hour trading.
Cohen's venture-capital fund Point72 Ventures is leading a $14 million funding round for 24 Exchange, a Bermuda-based crypto and foreign exchange trading platform that wants to bring the non-stop trading of the digital currency world to the stock market.
«The same people that trade cryptocurrencies started to trade more stocks because of the GameStop movement and the overall participation of retail that [has] increased significantly,» said Dmitri Galinov, founder and CEO of 24 Exchange. «If Elon Musk tweets something on Saturday, people would want to buy or sell Tesla stock.»
Trading sessions in
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