Digital Currency Groups (DCG) Barry Silbert has been appointed chairman of the board of directors of Asset Manager Grayscale, one of DCG’s subsidiaries, together with several other new, high -ranking hires at the company.
Silbert, who owns Grayscale, withdrew in December 2023 after the company was hit by a New York Attorney General’s Office, accused Silbert and DCG of misleading investors and hidden financial losses totaling over $ 1 billion. Both Silbert and DCG denied the claims and the case is ongoing at the New York State Court.
Silbert was replaced by DCG CFO Mark Shifke, who remains a board member. Grayscale filed a confidential submission for an initial public offer last month despite the ongoing legal back and forth with the New York Attorney General’s Office.
“I am honored to join the Grayscale board at a defining moment for both the company and the wider digital activist ecosystem,” Silbert said in a statement. “I still have a deep conviction in the company’s long -term positioning and in the leadership team that controls it forward.”
Grayscale also hired a new CEO, Chief Marketing Officer, Chief Communications Officer, and as Chief Human Resources Officer, who everyone reports to Grayscale CEO Peter Mintzberg.
Since Silbert’s resignation, Grayscale has converted his flagship Bitcoin Trust (GBTC) to a stock exchange-garded fund (ETF) as well as its Ethereum counterpart. It is also in the process of launching or converting several other products such as ETFs.
