Barry Silbert, Mark Murphy to exit Grayscale board 

Both resignations are effective Jan. 1, 2024

share

Digital Currency Group CEO Barry Silbert has resigned as Grayscale’s chair, according to a Tuesday filing with the US Securities and Exchange Commission. 

DCG President Mark Murphy will also be leaving the board. Both resignations are effective Jan. 1, 2024. 

DCG Chief Financial Officer Mark Shifke will replace Silbert as chair, the filing noted. Senior vice president of operations at DCG Matt Kummell, and Edward McGee, who serves on the audit committee, will also be joining the board. 

The departures come as DCG, Grayscale’s parent company, battles a lawsuit brought on by New York Attorney General Letitia James earlier this year. James’ office alleges DCG and its subsidiary Genesis concealed $1.1 billion in losses from investors. 

Read more: New York AG sues DCG, Gemini and Genesis in ‘sweeping lawsuit’

DCG in October said it had “cooperated for months” with New York regulators as James’ office investigated. 

“We were blindsided by the filing of the complaint, and there is no evidence of any wrongdoing by DCG, [CEO] Barry Silbert, or our employees, nor are there any compelling factual allegations in the complaint to establish the AG’s conclusory assertions regarding DCG,” the company wrote in a letter shared with Blockworks.  

The news also follows the court ruling that DCG is prohibited from selling or reducing ownership of Genesis until bankruptcy proceedings conclude. 

Genesis filed the motion back in late November, arguing that DCG’s stake in Genesis must stay above 80% to “to protect the potential value of [its holding company’s] interest in the federal net operating loss [NOL] carryforwards of the DCG Group.”


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Research Report Templates.jpg

Research

Figure, founded by former SoFi CEO Mike Cagney, has emerged as a leader in onchain RWAs, with ~$17.5B publicly tokenized. The platform’s ecosystem volume is growing ~40% YoY as it expands beyond HELOCs into student loans, DSCR loans, unsecured loans, bankruptcy claims, and more. Operationally, Figure cuts average loan production cost by ~93% and compresses median funding time from ~42 days to ~10, creating a durable speed-and-cost advantage.

article-image

New short and long-term priorities include L1 gas boosts, ZK-EVMs, privacy reads, and a lean, quantum-resistant Ethereum

by Blockworks /
article-image

The new stBTC token redistributes Bitcoin gas fees to users, creating liquid yield without inflation or lockups

by Blockworks /
article-image

The reserve will collect protocol revenues to back W token, alongside new yield and unlock schedule

by Blockworks /
article-image

Layer 2 network Taiko integrates Chainlink Data Streams to deliver reliable onchain market data for DeFi and institutions

by Blockworks /
article-image

The license will allow Bullish to operate in New York under strict digital asset rules

by Blockworks /
article-image

The derivatives giant expands crypto offerings with new Solana and XRP futures options, pending regulatory review

by Blockworks /