GoldenTree, a major asset manager, announces a $5.2 million investment in SushiSwap

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Last Updated on October 6, 2022 by Bitfinsider

GoldenTree said in a SushiSwap forum post on Wednesday that it has invested roughly $5.2 million in the SushiSwap governance token.

The business, which oversees roughly $47 million in assets, claimed to have been “following sushi for a while” and was “psyched to be more active in all things sushi” with the launch of its GoldenChain Asset Management subsidiary, which specializes in cryptocurrencies. In a forum post, GoldenTree also stated that “Sushi had incredible potential.”

Sushi was developed as a Uniswap clone with additional governance and liquidity mining capabilities. It aims to improve upon the original, although it seems to be lagging behind rivals.

The SUSHI token of SushiSwap has increased by over 14% to $1.28 over the previous day.

In the post, SushiSwap also added: “Although the community has certainly been through some tough challenges, we’ve been amazed at the resilience of both the core team and the community in the face of these speed bumps, as you all have continued to build and release top-tier products.”

Three days had passed since the change in leadership before the announcement. After months of realignment and debate about the governance of the protocol, the Sushi community on Monday elected Jared Grey as CEO, handing over control inside the decentralized exchange.

An entire year of organizational issues at Sushi was followed by the election. The original member and de facto CEO, known only by the alias 0xMaki, departed for an external advisory post in September 2021. Joseph Delong, the company’s chief technology officer, left in December to take on the same position at Astaria, a platform for lending non-fungible tokens.

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