A week after Eric Trump and Donald Trump Jr. rang the Nasdaq opening bell for a $1.5 billion deal involving biotech-turned-crypto payments company Alt5 Sigma Corp. and Trump-backed crypto firm World Liberty Financial, blue-chip hedge funds are getting in on the action.
Billionaire Steve Cohen’s Point72 Asset Management disclosed it had taken a 4% stake in Alt5 Sigma in a filing on Monday. The stock is owned by one of Point72’s funds, not Cohen individually. Alt5 Sigma shares slumped 10% on Tuesday to $5.48, putting the value of Point72’s holding at $26.7 million.
Additionally, ExodusPoint Capital Management’s master ...
