Steve Cohen's Point72 starts efforts for big entrance into cryptocurrency

Point72, the firm founded by Steve Cohen, plans to jump into cryptocurrency in a big way, investing from its venture capital unit and with long-short strategies through its hedge fund arm, The Block reports, citing unnamed sources.The firm is working on bringing in crypto talent for the initiative, one of the sources told the news outlet.Most cryptocurrencies are trading down recently, with bitcoin dipping below $50K (recently trading at ~$49.8K), ethereum falling 12% to ~$3,777, Binance Coin -10% to $599, and dogecoin -16% to 41 cents.Earlier, BITQ, a new ETF that provides exposure to the crypto market without holding crypto assets.