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Grayscale executives Barry Silbert and Mark Murphy leave board

Cryptocurrency investment firm Grayscale Investments, the operator of the Grayscale Bitcoin Trust, has announced the resignation of its board of prominent executives.

Barry Silbert, founder and CEO of Digital Currency Group (DCG) – Grayscale’s parent company – is resigning from Grayscale’s board of directors, the company officially announced on December 26 in its 8-K filing with the Securities and Exchange of UNITED STATES. Commission.

According to the filing, DCG Chairman Mark Murphy also announced his resignation from Grayscale’s board of directors. Both resignations are effective January 1, 2024 and new members Mark Shifke, Matthew Kummell and Edward McGee join the board.

“Effective January 1, 2024, the Board of Directors consists of Mr. Shifke, Mr. Kummell, Michael Sonnenshein and Mr. McGee, who also retain the authority granted to them as officers under the Board of Directors Agreement. limited liability company of the sponsor,” the announcement said. bed.

Grayscale is one of 14 companies that filed a Spot Bitcoin ETF with the SEC and has actively participated in discussions with the regulator regarding its Grayscale Bitcoin Trust. One of the largest crypto investment firms in the world, Grayscale has been working hard to launch its spot Bitcoin ETF, winning a lawsuit against the SEC for Bitcoin ETF review in August 2023.

It remains to be seen what the latest changes to the board could mean for Grayscale. Some online commentators have linked the resignations to a possible approval of Grayscale’s spot Bitcoin ETF.

Related: SEC Sets Deadline for One-Time Bitcoin ETF Updates as December 29

“I guess BTC ETF is now a done deal. However, I have to say that the SEC is stuffing the crypto industry with ex-Goldman guys,” wrote one industry observer on X (formerly Twitter).

According to Grayscale’s 8-K filing, the company’s new president, Shifke, is a 64-year-old financial expert with significant experience in finance and banking. He is currently the Chief Financial Officer of DCG. Prior to joining DCG, Shifke served as CFO of cloud-based solutions company Billtrust and CFO of Green Dot, a mobile banking platform. He also led teams at JPMorgan Chase and Goldman Sachs specializing in mergers and acquisitions, advisory and tax investments.

Review: SEC Delays Ether ETFs, Binance Settlement Approval and Another Legal Loss for SBF: Hodler’s Digest, December 17-23