Barry Silbert resigns from board of Grayscale Bitcoin Trust's sponsor

seekingalpha2023-12-27

Grayscale Investments, the company behind Grayscale Bitcoin Trust (OTC:GBTC), disclosed on Tuesday that Barry Silbert resigned as chairman and is stepping down from the board as of Jan.1, 2024. ...

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Another board member, Mark Murphy, also resigned from the board. GBTC stock slid 3.5% and the Grayscale Ethereum Trust (OTCQX:ETHE) sank 4.1% in Tuesday midday trading. Bitcoin (BTC-USD) dipped 2.7% in the past 24 hours to $42.3K, and ethereum (ETH-USD) fell 2.4%. Silbert is founder and CEO of Grayscale parent Digital Currency Group, which has been dealing with lawsuits from regulators over a lending program by its former unit Genesis Global Capital and Gemini Trust Co., a crypto exchange founded by the Winklevoss twins. The board changes also come as Grayscale Bitcoin Trust (OTC:GBTC) awaits an SEC decision on whether it can convert to a exchange-traded fund (\"ETF\").  Mark Shifke, the chief financial officer of DCG, will succeed Silbert as chairman of Grayscale Investments' board. Prior to joining DCG, Shifke served stints as CFO at Billtrust, a payments platform, and Green Dot (GDOT), a mobile banking an payments platform. Previously, he had worked at JPMorgan Chase (JPM) and Goldman Sachs (GS). Grayscale also said Matthew Kummell, senior vice president of operations at DCG; and Edward McGee, CFO of Grayscale, are joining Grayscale's board. Bloomberg News reported that Grayscale CEO Michael Sonnenshein will remain on the board.  More on Grayscale Bitcoin Trust  Grayscale Bitcoin Trust: Why I'm Switching To A Hedged Position Grayscale Bitcoin Trust: Sell Into The Bitcoin Spot ETF Hype Grayscale Bitcoin Trust: Lightening But Still Long Gemini sues ex-partner Genesis over $1.6B of GBTC shares SEC has no plans to ask appeals court to reverse spot bitcoin ETF ruling - report","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2394289052"}