BREAKING: Barry Silbert Relinquishes Grayscale Chair Role, Mark Shifke Assumes Leadership

In a recent announcement, Grayscale Investments, the operator of the popular Grayscale Bitcoin Trust (GBTC), revealed the resignations of two prominent executives from its board of directors. 

Leadership Changes At Grayscale

Barry Silbert, the founder and CEO of Digital Currency Group (DCG), and Mark Murphy tendered their resignations, effective January 1, 2024. The company also disclosed the appointment of Mark Shifke as the new Chairman of the Board.

The official 8-K filing with the United States Securities and Exchange Commission outlined the upcoming changes in Grayscale’s leadership structure. The filing stated that Barry Silbert and Mark Murphy had notified the Sole Member of Sponsor (the “Sole Member”) about their decision to resign from the board of directors. 

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

Mark Shifke Assumes Chairman Position

According to the announcement, Mark Shifke, 64, will provide a “wealth of experience” to his new position as board chairman. Shifke serves as Chief Financial Officer of Digital Currency Group and has been involved in the financial and fintech sectors for nearly four decades.

Before joining DCG, Shifke worked at JPMorgan Chase and Goldman Sachs, focusing on M&A Structuring and Advisory, as well as Tax Asset Investments. He began his career as a partner at Davis Polk and holds degrees from Tulane University and the New York University School of Law.

Joining Shifke on the board are Matthew Kummell and Edward McGee. Matthew Kummell, 47, currently serves as the Senior Vice President of Operations at DCG.

Edward McGee, 40, has been appointed as a board member and retains his role as Chief Financial Officer of Grayscale Investments. Before joining the company, McGee held positions at Goldman Sachs and Ernst & Young, specializing in accounting policy and financial reporting.

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

Featured image from CNBC, chart from TradingView.com