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 was hit with a lawsuit from the New York Attorney General’s office which accused Silbert and DCG of misleading investors and hiding financial losses totaling more than $1 billion. Both Silbert and DCG denied the claims, and the case is ongoing 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 back-and-forth 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 said in a statement. “I continue to have deep conviction in the company’s long-term positioning and in the leadership team guiding it forward.”
Grayscale also hired a new chief operating officer, chief marketing officer, chief communications officer, and as chief human resources officer, who all report to Grayscale CEO Peter Mintzberg.
Since Silbert’s resignation, Grayscale has converted its flagship Bitcoin Trust (GBTC) into an exchange-traded fund (ETF) as well as its Ethereum counterpart. It is also in the process of launching or converting several other products as ETFs.