Barry Silbert Steps Down as Grayscale CEO

The largest cryptocurrency asset management company, Grayscale, will see a shift in its executive leadership as founder Barry Silbert is prepared to step down to focus on other initiatives of Digital Currency Group.

• Announced Thursday, Grayscale will see a change in its Chief Executive Officer position.
• The founder of the company, Barry Silbert, who was acting as its CEO until now, will step down. In his place, the high-ranked executive position will be assumed by Michael Sonnenshein.
• Sonnenshein is the company’s long-standing managing director and has supposedly played a massive role in attracting new investors and making Grayscale the largest crypto asset manager.
• Speaking on the matter, he commented on his future plans for the company:

I want to make Grayscale synonymous with digital investing like PIMCO is with fixed income and Vanguard is with index funds.”

• Meanwhile, Barry Silbert, who is also the CEO & Co-Founder of Grayscale’s parent company, Digital Currency Group, will shift his focus on it. He said that the company will be announcing another new subsidiary in the near future, while also adding that:

All eyes are on the Coinbase IPO, which will result in the repricing of many companies in the space, and accelerate M&A.