Just a few weeks after Crypto Asset Manager, Barry Silbert made a notable return to Asset Management Company, Crypto Exchange-Traded Fund (ETF) Issuer (ETF) as chairman. Submit Confidential US initial public offering (IPO).
Silvert, who founded Grayscale in 2013, will take over Mark Shifuke. Mark Shifke will remain on the board as the company prepares for its future as a stock-traded entity. This leadership transition is consistent with plans to introduce independent directors to strengthen Grayscale’s governance.
Grayscale’s new executive team
In a key move to strengthen the executive team, Grayscale has appointed four experts from a broad background in traditional finance (TRADFI).
According to The company’s announcement on Monday said new recruits include Diana Chan as Chief Operating Officer, Ramona Boston as Chief Marketing Officer, Andrea Williams as Chief Communications Officer, and Maxwell Rosenthal as Chief Human Resources Officer.
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These executives will be joining Grayscale for companies such as Bridgewater, Apollo, Goldman Sachs and Citadel, and report directly to CEO Peter Mintzberg, who has been at the helm since last year. Mintzberg said:
This blend of institutional rigor and entrepreneurial drive shapes every aspect of how we operate at Grayscale, allowing our clients to offer innovative investment strategies with the operational integrity we expect from our trusted partners.
Silbert’s return is a critical time for the company after a period of turbulence characterized by regulatory scrutiny. He resigned as chairman in late 2023 just before the US Securities and Exchange Commission (SEC) ruled on Spot Bitcoin. ETFSincluding many years of efforts to convert Bitcoin Trust (GBTC) into ETFs.
Around the same time, Silvert’s parent company, Digital Currency Group (DCG), faced legal challenges from the New York Attorney General regarding the collapse of crypto lending company Genesis and its relationship with the crypto exchange Gemini acquisition program.
Regulations backwind
In him statement Following the announcement, Silvert expressed his enthusiasm for rejoining Grayscale, highlighting the company’s direction and his belief in the team that leads it. Silvert pointed out:
When we founded Grayscale in 2013, we saw great opportunities to develop new models for accessing and investing in digital assets, and to build the operational infrastructure that investors ultimately demand. Today, I remain deeply confident in the long-term positioning of the company and the leadership team that will advance it.
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Grayscale currently manages more than $35 billion in a variety of crypto investment products, including Spot Bitcoin and more. Ethereum ETFs and diversified digital asset funds.
Earlier this year, DCG reached a $38 million settlement with the U.S. Securities and Exchange Commission over misleading investor allegations through its subsidiary Genesis Global Capital.
New York Attorney General Leticia James sued Gemini, Genesis and DCG in the Crypto Lending program, adding to the ongoing regulatory challenges DCG is facing, claiming that more than 29,000 New Yorkers are hiding their $1.1 billion losses.
