Steven Tananbaum's GoldenTree Asset Management Sells Crypto Unit to Investment Firm Republic

Global asset manager GoldenTree has sold its digital asset unit to investment firm Republic, with former partner Joe Naggar set to join the company. Republic announced the acquisition of GoldenChain on Tuesday, a wholly owned subsidiary of GoldenTree, which managed the firm's digital asset funds. Nagger will become CEO and CIO of the newly formed digital asset-focused entity Republic Digital. Republic said the deal was designed to bolster its market position. It will leverage the combined expertise to explore new opportunities in the digital asset space.

Read the full story at The Block.