NYDIG CEO and President Stepped Down Amid The Doomsday Crypto Market

Tejas Shah and Nate Conrad, executives of Bitcoin investment business NYDIG, have been promoted to CEO and president, respectively.

Both the company’s current CEO, Robert Gutmann, and President Yan Zhao will be stepping down as a result of the promotions.

According to a press release, the duo will continue with Stone Ridge Holdings Group, NYDIG’s parent company, and will work throughout the Stone Ridge business portfolio. Gutmann will also remain on the NYDIG board of directors.

“I’m proud of everything we’ve accomplished so far, and I cannot wait to see what the incredible NYDIG team will achieve in the coming years and decades,” said Gutmann.

The firm provides a full-stack Bitcoin platform to businesses in a variety of sectors in order to make Bitcoin and the Lightning Network more accessible, as well as a variety of Bitcoin investing options.

Shah and Conrad will concentrate on increasing NYDIG’s investment in mining solutions as well as its platform technology company, which assists organizations in using the Lightning Network. The new CEO, Tejas Shah stated:

“I’m honored to lead this incredible organization on our important mission of Bitcoin for All. The whole NYDIG team remains laser-focused on delivering the world-class financial and technological solutions our clients know and expect from the firm. Our strong balance sheet, especially in today’s market, is a powerful differentiator in serving our clients.”

The change at NYDIG comes at a time when many crypto firms are seeing a changing of the guard. As CoinCu reported, the firm recently raised $720 million for its Institutional Bitcoin Fund.

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