Noted bitcoin investor Barry Silbert has resigned from his position as CEO of SecondMarket, the New York-based illiquid assets marketplace he founded in 2004 and that in 2013 made a $2m investment in the Bitcoin Investment Trust (BIT), a private trust of which Silbert remains CEO.
In a company blog post, Silbert stated that he is confident that SecondMarket has a bright future continuing its current successful business model, but that the decision is meant to allow him the freedom to focus his full energies on bitcoin.
Silbert added that the move will help formally separate SecondMarket from BIT, a decision he first announced earlier this year when he indicated that BIT would seek to build a regulated, New York-based bitcoin exchange.
The move will find Bill Siegel taking over day-to-day leadership of SecondMarket as the company's interim CEO.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.