BlockTower Acquires Rival Crypto Hedge Fund Gamma Point (2)

BlockTower Capital, a cryptocurrency fund that recently snagged an investment from billionaire hedge-fund manager Marc Lasry, has acquired rival Gamma Point Capital.

The deal is valued at about $35 million, BlockTower co-founder and Chief Executive Officer Matthew Goetz said in a Bloomberg TV interview. Gamma is a San Francisco-based investment manager specializing in neutral strategies, investing in everything from coins to derivatives and decentralized-finance applications-related strategies. The idea is to use hedging to make returns no matter whether it’s a bull or bear market.

“A market-neutral strategy we are talking about really doesn’t care where the market goes from here,” ...