Digital Currency Group’s (DCG) Barry Silbert has been re-appointed as chairman of the board at asset manager Grayscale, one of DCG’s subsidiaries, alongside several other new high-ranking hires at the firm.
Silbert, who owns Grayscale, resigned in December 2023 after the company faced a lawsuit from the New York Attorney General’s office, which accused Silbert and DCG of misleading investors and concealing financial losses exceeding $1 billion. Both Silbert and DCG denied the allegations, and the case is still pending in New York state court.
Silbert was replaced by DCG’s chief financial officer Mark Shifke, who will remain a board member. Grayscale filed a confidential submission for an initial public offering last month, despite the ongoing legal disputes with the New York Attorney General’s office. “I’m honored to rejoin the Grayscale board at a defining moment for both the company and the broader digital asset ecosystem,” Silbert stated. “I continue to have deep conviction in the company’s long-term positioning and in the leadership team guiding it forward.”
Grayscale also appointed a new chief operating officer, chief marketing officer, chief communications officer, and chief human resources officer, all reporting to Grayscale CEO Peter Mintzberg.
Since Silbert’s resignation, Grayscale has converted its flagship Bitcoin Trust (GBTC) into an exchange-traded fund (ETF), along with its Ethereum counterpart. The firm is also working on launching or converting several other products into ETFs.
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