Do Kwon has 14 days to return his passport, according to a notice on a government website.

GoldenTree has invested about $5.2 million the SushiSwap governance token, the asset management giant said in a SushiSwap forum announcement on Wednesday.

The company, which has about $47 million in assets under management, said it it had been "following Sushi for a while" and with the start-up of its crypto-focused GoldenChain Asset Management arm, was "psyched to be more active in all things Sushi."

Sushi was created as a copy of Uniswap, with added liquidity mining and governance features. Although aiming to improve on the original, it has appeared to be falling behind competitors.

Still, GoldenTree said in its forum post that "Sushi had incredible potential."

"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."

The announcement came just three days after a leadership change. On Monday, Sushi community members elected Jared Grey as CEO, transferring power within the decentralized exchange after months of realignment and controversy surrounding the protocol’s governance.

The election followed a year of organizational difficulties at Sushi. In September 2021, the de facto CEO and founding member, pseudonymous 0xMaki, left for an external advising position. In December, Chief Technology Officer Joseph Delong departed to serve in the same role at NFT (non-fungible token) lending platform Astaria.

The firm has been ratcheting up its commitment to crypto for more than a year. In July 2021, the company added an undisclosed amount of bitcoin to its balance sheet, and earlier this year, it introduced its new digital investment strategy, including GoldenChain and a team of what it referred to as "10 crypto natives" the forum post.


All writers’ opinions are their own and do not constitute financial advice in any way whatsoever. Nothing published by CoinDesk constitutes an investment recommendation, nor should any data or Content published by CoinDesk be relied upon for any investment activities. CoinDesk strongly recommends that you perform your own independent research and/or speak with a qualified investment professional before making any financial decisions.

Recommended content


Recommended Content

Editors’ Picks

HYPE drops 6% amid Eyenovia plans to establish Hyperliquid treasury

HYPE drops 6% amid Eyenovia plans to establish Hyperliquid treasury

Hyperliquid (HYPE) sustained a 6% decline on Tuesday despite Nasdaq-listed Eyenovia's (EYEN) announcement that it entered a securities purchase agreement to offer up to $50 million of its shares to establish a HYPE treasury.

Top 3 Price Prediction: Bitcoin, Ethereum, Ripple – BTC, ETH, and XRP dips as US involvement in Israel-Iran conflict looms

Top 3 Price Prediction: Bitcoin, Ethereum, Ripple – BTC, ETH, and XRP dips as US involvement in Israel-Iran conflict looms

Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) prices hovered around key levels on Wednesday after falling the previous day. The crypto market turned risk-averse amid growing concerns that the United States could intervene in the escalating conflict between Israel and Iran. 

Crypto market tumbles as US missile strikes over Iran: SPX, VIRTUAL, and WIF lead the losses

Crypto market tumbles as US missile strikes over Iran: SPX, VIRTUAL, and WIF lead the losses

The broader cryptocurrency market is trading in the red as the US steps into the Israel-Iran conflict. Bitcoin (BTC) trades below $105,000 at press time, while meme coins such as SPX6900 (SPX) and Dogwifhat (WIF) lead the market pullback alongside Virtuals Protocol (VIRTUAL). 

Shorts weigh on Ethereum amid whale accumulation and strong ETH ETF inflows, experts reveal why

Shorts weigh on Ethereum amid whale accumulation and strong ETH ETF inflows, experts reveal why

Ethereum (ETH) is down 2% on Wednesday amid a simultaneous growth in accumulation and short positioning across ETH futures. The divergence follows investors leveraging a delta-neutral play to scoop yield.

Bitcoin: BTC could slump to $100K amid Trump-Musk tussle

Bitcoin: BTC could slump to $100K amid Trump-Musk tussle

Bitcoin (BTC) tumbled to a low of $101,095 on Friday amid volatility in the market. The effect of the tussle between United States (US) President Donald Trump and Tesla Chief Elon Musk negatively influenced the NASDAQ and Tesla's stock price on Thursday, although both are recovering on Friday.

The Best brokers to trade EUR/USD

The Best brokers to trade EUR/USD

SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.

BTC

ETH

XRP