PANews reported on October 21st that Joe Naggar, a former partner at Steven Tananbaum's GoldenTree Asset Management, is launching an independently operated hedge fund with $300 million under management, marking his team's official separation from Republic, a cryptocurrency-focused investment firm. Naggar and his team, previously operating under the name Republic Digital, will now operate independently as Feynman Point Asset Management, an investment firm focused on digital asset markets and cutting-edge technologies.

Despite its numerous transformations, the fund has continued to perform remarkably well. According to Feynman Point Asset Management, its backers, including the $600 million Swiss fund L1D and New York Blockchain Investment Group, have achieved an annualized net return of over 42% since its inception in 2022. Successful trades include the purchase of Grayscale Bitcoin Trust (GBTC) at a 40% discount to the underlying asset, an early investment in the high-performing decentralized exchange Hyperliquid, and an equity investment in Ripple.