Skadden is advising Franklin Templeton on its plan to acquire 250 Digital, an active cryptocurrency investment management firm. The acquisition would include the 250 Digital investment team and all liquid cryptocurrency strategies previously run by CoinFund Management LLC.
Following the acquisition, the newly formed Franklin Crypto unit would expand Franklin Templeton’s existing suite of crypto and blockchain VC investment offerings and broaden the firm’s digital assets investment management platform.
The transaction is expected to close in the second calendar quarter of 2026 — subject to the execution of definitive transaction agreements, client consents and other customary closing conditions — and incorporate BENJI tokens as payment consideration.
The Skadden team includes Michael Reed, Nicholas Colombo, Heather Cruz and Erica Schohn.