BREAKING: Barry Silbert Relinquishes Grayscale Chair Position, Mark Shifke Assumes Management

In a current announcement, Grayscale Investments, the operator of the favored Grayscale Bitcoin Belief (GBTC), revealed the resignations of two outstanding executives from its board of administrators. 

Management Adjustments At Grayscale

Barry Silbert, the founder and CEO of Digital Forex Group (DCG), and Mark Murphy tendered their resignations, efficient January 1, 2024. The corporate additionally disclosed the appointment of Mark Shifke as the brand new Chairman of the Board.

The official 8-Ok submitting with the US Securities and Alternate Fee outlined the upcoming modifications in Grayscale’s management construction. The submitting said that Barry Silbert and Mark Murphy had notified the Sole Member of Sponsor (the “Sole Member”) about their choice to resign from the board of administrators. 

Concurrently, the Sole Member appointed Mark Shifke, Matthew Kummell, and Edward McGee to the Board, with Mark Shifke assuming the function of Chairman.

Mark Shifke Assumes Chairman Place

Based on the announcement, Mark Shifke, 64, will present a “wealth of experience” to his new place as board chairman. Shifke serves as Chief Monetary Officer of Digital Forex Group and has been concerned within the monetary and fintech sectors for practically 4 a long time.

Earlier than becoming a member of DCG, Shifke labored at JPMorgan Chase and Goldman Sachs, specializing in M&A Structuring and Advisory, in addition to Tax Asset Investments. He started his profession as a associate at Davis Polk and holds levels from Tulane College and the New York College Faculty of Legislation.

Becoming a member of Shifke on the board are Matthew Kummell and Edward McGee. Matthew Kummell, 47, at present serves because the Senior Vice President of Operations at DCG.

Edward McGee, 40, has been appointed as a board member and retains his function as Chief Monetary Officer of Grayscale Investments. Earlier than becoming a member of the corporate, McGee held positions at Goldman Sachs and Ernst & Younger, specializing in accounting coverage and monetary reporting.

Bitcoin is at present buying and selling at $42,700, down 2.1% over the previous 24 hours, and has traded sideways for the previous seven days, with a slight decline of 0.5%.

Featured picture from CNBC, chart from TradingView.com