Two of the hedge fund industry’s biggest players – Point72 Asset Management and ExodusPoint Capital Management – have disclosed stakes in Alt5 Sigma, the crypto-payments company tied to the Trump family, according to a report by Bloomberg.
The report cites regulatory filings as revealing that Point72 acquired a 4% holding valued at roughly $26.7m, while ExodusPoint built a position of about 5.9m shares, or 4.75% of the company, worth $32.1m. ExodusPoint briefly held over 5% before trimming its stake in recent days.
The moves come just a week after Eric Trump and Donald Trump Jr marked Alt5’s $1.5bn stock deal with Trump-backed World Liberty Financial by ringing the Nasdaq opening bell. The tie-up has rapidly transformed Alt5, a former biotech firm facing delisting last year, into a crypto-fintech with a market value that recently peaked near $900m.
Alt5 now holds a stake in World Liberty tokens, which are expected to become tradable in the coming weeks. A Trump family entity owns 40% of World Liberty’s parent company, with Donald Jr, Barron Trump and Alex Witkoff among its co-founders.
Hedge fund shorts REA Group, betting on deeper Australian housing downturn
Australian hedge fund Bristlemoon Capital has taken a short position in REA Group, betting that a downturn in the country’s housing market…
More
Goldman Sachs upgrades equities and government bonds amid rising yields
Goldman Sachs has upgraded its outlook for equities and 10-year government bonds, citing improving return prospects for sovereign debt…
More
Mayer Brown appoints former CFTC senior counsel Danielle Abada as partner
Global law firm Mayer Brown has appointed Danielle Abada, a former senior official at the US Commodity Futures Trading Commission (CFTC),…
More