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Resignations from Grayscale Board of Directors: Relevant Details about Silbert and Murphy
Grayscale Investments, a leading cryptocurrency fund manager, has announced the resignation of two prominent figures from its board of directors: Barry Silbert and Mark Murphy.
The news was revealed through a filing with the United States Securities and Exchange Commission (SEC), scheduling these resignations to become effective on January 1, 2024.
The information detailed in the document, published on December 26 on the SEC's official site, highlights that Mark Shifke will assume the role of chairman of the board of directors in succession to Barry Silbert. Additionally, Matthew Kummell and Edward McGee will reportedly join the governing body effective the same date.
Although no clear explanations have been provided so far about the reasons behind these resignations, some media have recalled that Barry Silbert faced a lawsuit in October of the previous year by New York Attorney General Letitia James.
The allegations alleged that Silbert was involved in the alleged fraud that affected more than 230,000 investors, including at least 29,000 New Yorkers.
At that time, Digital Currency Group, Grayscale's parent company, categorically rejected the accusations presented by the prosecutor.
The departure of Silbert and Murphy from Grayscale's board of directors comes at a critical time, as the market is watching the possible approval of spot bitcoin exchange-traded funds (ETFs) by the SEC. Grayscale Investments is not only one of the main applicants for this type of product, but also one of the most prominent cryptocurrency fund managers on the market.
The anticipation surrounding the approval of bitcoin ETFs has created a climate of anticipation, especially considering that the first set of approvals is expected to take place before January 10, 2024.
Resignations from Grayscale Board of Directors: Relevant Details about Silbert and Murphy
Grayscale Investments, a leading cryptocurrency fund manager, has announced the resignation of two prominent figures from its board of directors: Barry Silbert and Mark Murphy.
The news was revealed through a filing with the United States Securities and Exchange Commission (SEC), scheduling these resignations to become effective on January 1, 2024.
The information detailed in the document, published on December 26 on the SEC's official site, highlights that Mark Shifke will assume the role of chairman of the board of directors in succession to Barry Silbert. Additionally, Matthew Kummell and Edward McGee will reportedly join the governing body effective the same date.
Although no clear explanations have been provided so far about the reasons behind these resignations, some media have recalled that Barry Silbert faced a lawsuit in October of the previous year by New York Attorney General Letitia James.
The allegations alleged that Silbert was involved in the alleged fraud that affected more than 230,000 investors, including at least 29,000 New Yorkers.
At that time, Digital Currency Group, Grayscale's parent company, categorically rejected the accusations presented by the prosecutor.
The departure of Silbert and Murphy from Grayscale's board of directors comes at a critical time, as the market is watching the possible approval of spot bitcoin exchange-traded funds (ETFs) by the SEC. Grayscale Investments is not only one of the main applicants for this type of product, but also one of the most prominent cryptocurrency fund managers on the market.
The anticipation surrounding the approval of bitcoin ETFs has created a climate of anticipation, especially considering that the first set of approvals is expected to take place before January 10, 2024.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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