Steve Cohen’s Point72 Ventures Leads $10M Funding Round in Crypto Exchange D2X
Point72 Ventures, an early-stage venture fund backed by Steve Cohen, is leading a $10 million Series A funding round in D2X, a Netherlands-based crypto derivatives exchange.
In an announcement, D2X said the investment comes as it reached a “pivotal milestone” by becoming the first entity in the European Union (EU) to obtain a Markets in Financial Instruments Directive (MiFID) multilateral trading facility (MTF) license for crypto derivatives.
MTFs operate under the EU’s MiFID II which stipulates that financial instruments traded via an MTF must be exchanged on a ‘non-discretionary basis’. MTFs provide retail investors with an alternative platform to trade financial securities.
D2X said it has been granted the license by the Dutch Authority for Financial Markets (AFM) The license authorizes D2X to operate a regulated trading venue for cash-settled crypto futures and options.
The Netherlands-based exchange said it will launch in the second quarter of 2024 and aims to be the first exchange in Europe to list regulated crypto derivatives seven days a week.
“Point72 Ventures is thrilled to support D2X on its mission to revolutionize the crypto derivatives market,” said Adam Carson, partner at Point72 Ventures, in a press release.
“Their dedication to providing a regulated trading venue for institutions, coupled with their innovative approach, has the potential to make transformative changes in the industry. We’re excited to be part of this journey,” adds Carson.
Over the years, the crypto derivative markets have seen increasing interest. Crypto derivatives are complex, tradeable financial instruments typically used by advanced traders.
Point72 Ventures has been actively investing in startups in the digital asset space despite the
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