Tananbaum’s GoldenTree Sells Crypto Subsidiary to Republic
- Fund managed as much as $150 million in crypto last September
- Crypto suffered ‘regulatory and reputational’ issues last year
Joe Naggar
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
Hedge fund manager Steven Tananbaum’s GoldenTree Asset Management has sold its crypto subsidiary to digital-asset investment firm Republic.
Joe Naggar, a former partner at GoldenTree, will join Republic Digital, a newly created entity under Republic, as chief executive officer and chief investment officer. The acquisition of GoldenChain, a wholly owned subsidiary of GoldenTree, was completed in the last week, Naggar said. He declined to disclose the terms of the deal, citing confidentiality.