cryptodnes.bg
Grayscale Investments, a cryptocurrency investment firm known for running the Grayscale Bitcoin Trust, recently announced changes to its board leadership.
Barry Silbert, CEO of Digital Currency Group (DCG), the parent company that oversees Grayscale, is stepping down from Grayscale's board of directors. That decision, along with the resignation of DCG president Mark Murphy from Grayscale's board, was officially disclosed in the company's 8-K filing with the U.S. Securities and Exchange Commission on Dec. 26.
According to the filing, effective January 1, 2024, new members Mark Schiffke, Matthew Kummel and Edward McGee will join the board. The board will then consist of Schiffke, Kummel, Michael Sonenstein and McGee, who will also have authority as officers under the sponsor's limited liability company agreement.
Grayscale, a major player in the cryptocurrency investment space, is among the companies seeking SEC approval for a Bitcoin exchange-traded fund (ETF). It has been in constant dialogue with the regulator and notably won a court case in August 2023 that enabled further consideration of its Bitcoin ETF proposal.
Recent changes to Grayscale's board of directors have sparked speculation of potential ramifications. Some observers linked these resignations to the expected approval of the ETF for Bitcoin on Grayscale.
According to Grayscale's 8-K filing, the new chairman, Schiffke, brings extensive financial experience. At the age of 64, he currently holds the position of Chief Financial Officer at DCG. Schiffke previously served as CFO at Billtrust, a cloud solutions company, and Green Dot, a mobile banking platform. He has also held senior positions at JPMorgan Chase and Goldman Sachs, specializing in mergers and acquisitions, advisory services and tax asset investments.