The company, which has about $47 billion in assets under management, said it had been "following Sushi for a while" and with the start 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."
SushiSwap's token SUSHI is up nearly 14% at $1.28 in the past 24-hours.
"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 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.
UPDATE (Oct. 6, 2022 11:13 UTC): Adds token movement in fifth paragraph.
CORRECTION (Oct. 6, 13:45 UTC): GoldenTree has $47 billion in assets under management.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.