Barry Silbert, from Digital Currency Group (DCG), was renamed chairman of the board of directors of the Director of Grayscale assets, one of the DCG subsidiaries, alongside several other new high -ranking hits in the company.
Silbert, who owned Grayscale, resigned in December 2023 after the company was struck by a trial of the Prosecutor General of New York which accused Silbert and DCG of deceiving investors and hiding financial losses totaling more than a billion dollars. Silbert and DCG both denied complaints, and the case is underway before the New York State Court.
Silbert has been replaced by DCG financial director, Mark Shifke, who will remain a member of the board of directors. Grayscale filed a confidential submission for a first public offer last month, despite the current back and forth with the office of the Prosecutor General of New York.
“I am honored to join the Graycale board of directors at a decisive moment for the company and the wider digital asset ecosystem,” said Silbert in a statement. “I continue to have a deep conviction in the long -term positioning of the company and in the management team that guided it.”
Grayscale also hired a new operations director, marketing director, communications director, and as director of human resources, who all come under the CEO of Grayscale, Peter Mintzberg.
Since the resignation of Silbert, Grayscale has converted his Bitcoin flagship (GBTC) into the Stock Exchange (ETF) funds as well as his etherum counterpart. He is also launching or converting several other products as an ETF.
