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Just in: Grayscale appoints new CEO as Michael Sonnenshein resigns

By:
on May 20, 2024
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  • Michael Sonnenshein steps down after decade-long service.
  • The firm has announced Peter Mintzberg from Goldman Sachs as a replacement.
  • Sonnenshein propelled Grayscale’s growth into a leading cryptocurrency asset management company.

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Recent reports reveal Michael Sonnenshein has ended his decade-long relationship with Grayscale as he resigned from the role. 

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Meanwhile, the company has appointed Goldman Sachs’s Peter Mintzberg as the new chief.

Peter has worked at giants such as BlackRock and Apollo Global and held its current position for over 3.5 years. 

Sonnenshein’s legacies in Grayscale Investments 

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Michael Sonnenshein’s leadership remains evident for everyone to see. Grayscale Investments transformed into a leading digital asset management company under his control. 

Sonnenshein led the movement that had the US Securities & Exchange Commission authorizing GBTC conversion into a spot Bitcoin exchange-traded funds

Further, he aided Grayscale in defeating the United States SEC. On his departure statement, Sonnenshein stated,

“I would like to thank Barry Silbert for his vision and partnership and for entrusting me to lead Grayscale’s business. The crypto asset class is at an important inflection point and this is the right moment for a smooth transition.”

Top players leaving the market

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The crypto world has seen massive changes since the 2021 bull rally, with prominent individuals quitting. 

Michael Sonnenshein has joined the likes of Changpeng Zhao, who resigned as Binance CEO amid intensified regulatory scrutiny. 

Also, FTX’s Sam-Bankman Fried will disappear in prison for years, whereas individuals such as Do Kwon and Zhu Su go down in history books.

Also, market-moving firms like Celsius and Voyager are long gone, and market players will wait to see Grayscale Investment’s operations as Peter Mintzberg takes over as CEO in August. 

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