Point72 Ventures, spearheaded by the visionary backing of Steve Cohen, boldly leads the charge with a $10 million Series A investment in D2X, a pioneering crypto derivatives exchange headquartered in the Netherlands.
D2X proudly heralds a monumental achievement as it secures the esteemed distinction of being the inaugural entity within the European Union to acquire a Markets in Financial Instruments Directive (MiFID) multilateral trading facility (MTF) license for crypto derivatives.
Under the rigorous framework of MiFID II, MTFs adhere to the principle that financial instruments traded within its realm must transpire on a ‘non-discretionary basis’, providing a robust platform for retail investors to engage with financial securities.
With the esteemed endorsement from the Dutch Authority for Financial Markets (AFM), D2X proudly holds the coveted license, empowering it to operate a regulated trading venue for cash-settled crypto futures and options.
Anticipated to debut in the second quarter of 2024, the Netherlands-based exchange sets its sights on a groundbreaking endeavor, aspiring to be the premier platform in Europe offering regulated crypto derivatives trading opportunities, available seven days a week.
Plans to ‘Revolutionize’ Crypto Derivatives Market
“Point72 Ventures proudly announces its backing of D2X in its bold endeavor to reshape the landscape of the crypto derivatives market,” declared Adam Carson, Partner at Point72 Ventures, exuding confidence in the venture’s potential.
“D2X’s unwavering commitment to establishing a regulated trading platform for institutional players, combined with its innovative strategies, signifies a seismic shift in the industry. We eagerly anticipate our involvement in this groundbreaking journey,” Carson confidently expressed.
With burgeoning interest in crypto derivatives over recent years, these intricate financial instruments have captured the attention of sophisticated traders.
Undeterred by market fluctuations, Point72 Ventures has demonstrated steadfast support for digital asset startups, exemplified by its lead investment in Messari in 2021.
Bull Market Triggers Increased VC Funding
As the market embarks on a robust crypto bull run, a surge of optimism pervades, captivating numerous venture capital investor firms eager to seize upon promising new projects for investment.
Despite recent years being overshadowed by scandals and the collapse of FTX in the crypto sphere, there’s a palpable sense within the community that brighter days lie ahead.
According to the latest PitchBook data, venture capital investment in crypto startups soared by 2.5% to a substantial $1.9 billion in Q4 2023, marking the initial upturn since Q2 2022.