Crypto Billionaire Barry Silbert Steps Down As Grayscale Chairman of The Board

Billionaire and early crypto entrepreneur Barry Silbert is resigning from crypto asset manager Grayscale’s board of directors as of New Year’s Day 2024.

Silbert, head of Grayscale’s parent company Digital Currency Group (DGC), will give his chair to DCG’s chief financial officer (CFO) Mark Shifke, according to a new filing with the U.S. Securities and Exchange Commission (SEC).

Mark Shifke is also listed as a board member of Dock Ltd. and Luno in the official filing. Before this, Shifke worked at JPMorgan Chase, Goldman Sachs, and KPMG.

In a statement to Bloomberg, a spokeswoman for Grayscale said,

“Grayscale and our investors will benefit from their respective experiences in the financial services and asset management industries as we prepare for Grayscale’s next chapter.”

Last month, DCG and Genesis Global, its bankrupt subsidiary, settled a legal dispute over $627 million in unpaid loans. The parties renegotiated, agreeing to a modified repayment schedule with upfront and monthly payments, aiming to settle the balance by April 1st.

DCG, founded in 2013, is one of the largest crypto conglomerates in the industry. Its portfolio includes some of the biggest exchanges, wallets, and blockchains in the space, and currently manages nearly $50 billion in assets.

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