Barry Silbert, Mark Murphy to exit Grayscale board 

Both resignations are effective Jan. 1, 2024


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.”

Start your day with top crypto insights from David Canellis and Katherine Ross. Subscribe to the Empire newsletter.

Explore the growing intersection between crypto, macroeconomics, policy and finance with Ben Strack, Casey Wagner and Felix Jauvin. Subscribe to the On the Margin newsletter.

The Lightspeed newsletter is all things Solana, in your inbox, every day. Subscribe to daily Solana news from Jack Kubinec and Jeff Albus.


Upcoming Events

Salt Lake City, UT

MON - TUES, OCT. 7 - 8, 2024

Blockworks and Bankless in collaboration with buidlbox are excited to announce the second installment of the Permissionless Hackathon – taking place October 7-8 in Salt Lake City, Utah. We’ve partnered with buidlbox to bring together the brightest minds in crypto for […]

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research

Research Report Templates.png


ZKPs enable efficient offchain transaction processing and validation, resulting in increased throughput and reduced fees. Solana's ZK Compression leverages ZKPs to minimize onchain storage costs, while Sui's zkLogin streamlines user onboarding by replacing complex key management with familiar OAuth credentials.


The crypto asset manager lowered its planned fee from 0.25% to 0.15%, undercutting its competitors


Plus, a look at planned ETH ETF fees and how they differ from their BTC counterparts


North Korea suspected in breach of Indian exchange’s multisig wallet


Plus, Sanctum’s CLOUD token has officially launched — but not without problems


It’s not yet clear whether Donald Trump is pumping bitcoin. But an unofficial memecoin is still seeing benefit.