Michael Sonnenshein, the Chief Executive Officer (CEO) of Grayscale Investments has resigned, marking the end of a decade-long involvement with the company. As reported by the Wall Street Journal (WSJ), Michael Sonnenshein will be replaced by Peter Mintzberg, the current Global Head of Strategy for Goldman Sachs.

Grayscale Investments Under Michael Sonnenshein

The legacies of Michael Sonnenshein remain very glaring for all to see. His role contributed to fueling the growth of Grayscale Investments into the largest crypto asset management firm. Through the undefeated stance of Michael Sonnenshein toward the company’s product offering, he lead the charge that saw the United States Securities and Exchange Commission (SEC) approve the conversion of Grayscale Bitcoin Trust (GBTC) into a full fledged spot BTC ETF product.

Securing the approval, though beneficial for the broader crypto market, came at a cost. After initial rejections, Grayscale filed a lawsuit against the US SEC and won, paving the way for the product.

Now that he has stepped down, Peter Mintzberg is on schedule to take over as the firm’s CEO in August.

This is a breaking story, please check back for updates

The post Breaking: Grayscale CEO Michael Sonnenshein Resigns appeared first on CoinGape.

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Filed under: News - @ May 20, 2024 1:28 pm