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 Barry Silbert, the CEO of Digital Currency Group (DCG), has resigned from his position as the chairman of the board of directors at Grayscale Investments.
 Silbert’s departure comes at a pivotal moment for Grayscale, which is currently seeking regulatory approval from the U.S. Securities and Exchange Commission (SEC) to convert its Grayscale Bitcoin Trust (GBTC) into a spot Bitcoin exchange-traded fund (ETF).
 <img decoding="async" class="alignnone wp-image-468386 size-full" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201031%20261'%3E%3C/svg%3E" alt="Grayscale Barry Silbert" width="1031" height="261" data-lazy-srcset="https://cdn.thebittimes.com/images/2023/12/27/d398a46a2815098dc4b837326f829a17.webp 1031w, https://cdn.thebittimes.com/images/2023/12/27/d398a46a2815098dc4b837326f829a17.webp 300w, https://cdn.thebittimes.com/images/2023/12/27/d398a46a2815098dc4b837326f829a17.webp 1024w, https://cdn.thebittimes.com/images/2023/12/27/d398a46a2815098dc4b837326f829a17.webp 768w" data-lazy-sizes="(max-width: 1031px) 100vw, 1031px" data-lazy-src="https://cdn.thebittimes.com/images/2023/12/27/d398a46a2815098dc4b837326f829a17.webp">
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 According to an 8-K filing with the SEC, Mark Shifke, the current Chief Financial Officer of DCG, will succeed Barry Silbert as the new chairman of the board, effective January 1, 2024. Shifke will be joined by Matthew Kummell and Edward McGee, who have also been appointed to the board.
 <h2 id="grayscale-legal-woes">Grayscale Legal Woes</h2>
 The news of Silbert’s resignation has sparked speculation about the future of Grayscale and its parent company, DCG. Some analysts believe that the move is an attempt to demonstrate good governance and “best behavior” to regulators ahead of the long-awaited Bitcoin ETF decisions.
 In recent months, Grayscale has faced scrutiny over legal troubles at DCG related to its Genesis Global Capital lending unit.
 The departure of Silbert and DCG President Mark Murphy from the Grayscale board of directors may be seen as an attempt to clear the deck for fresh leadership with a clean slate.
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Grayscale's profits in 2024 will be about 10% of Blackrock's, maybe more if we rip higher.
 The board resignations today don't change the economics to DCG or the market share of Grayscale. All they do is pave the way for GBTC's almost certain uplisting.
 Full send.
 — Ryan Selkis (d/acc)🪳 (@twobitidiot) December 26, 2023
 </blockquote>
 
 With over $20 billion in assets under management, Grayscale remains a major player in the crypto industry. The company’s Bitcoin Trust (GBTC) is also a very popular investment vehicle for institutional investors seeking exposure to Bitcoin.
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Barry Silbert Steps Down As Grayscale Investments’ Chairman

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