<p><span data-contrast="auto">Bitcoin investment firm NYDIG announced the promotion of company executives Tejas Shah and Nate Conrad to the roles of CEO and president, respectively.</span><span data-ccp-props="{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559685&quot;:0,&quot;335559737&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}"> </span></p> <p><span data-contrast="auto">The promotions mean that both NYDIG’s current CEO Robert Gutmann and President Yan Zhao will be stepping down. </span></p> <p><span data-contrast="auto">The pair will, however, remain at Stone Ridge Holdings Group, NYDIG’s parent company, working across the portfolio of Stone Ridge business, according to a company release.</span> <span data-contrast="auto">Gutmann will also continue to serve on the NYDIG board.</span><span data-ccp-props="{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559685&quot;:0,&quot;335559737&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}"> </span></p> <p><span data-contrast="auto">“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 in the release. </span><span data-contrast="auto">"As leaders of our biggest businesses, Tejas and Nate have been driving forces in NYDIG's success. They are ready to lead NYDIG in its next phase of growth."</span><span data-ccp-props="{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559685&quot;:0,&quot;335559737&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}"> </span></p> <p><span class="TextRun SCXW77362260 BCX0" lang="EN-US" xml:lang="EN-US" data-contrast="auto"><span class="NormalTextRun SCXW77362260 BCX0">NYDIG offers a full-stack Bitcoin platform to businesses across a range of </span><span class="NormalTextRun SCXW77362260 BCX0">industries</span><span class="NormalTextRun SCXW77362260 BCX0"> to make </span><span class="NormalTextRun SCXW77362260 BCX0">Bitcoin and Lightning network more accessible, alongside a number of bitcoin investment services.</span></span></p> <p><span data-contrast="auto">Both Shah and Conrad previously worked at Goldman Sachs and were most recently in the positions of NYDIG's global head of institutional finance and global head of payments, respectively.</span><span data-ccp-props="{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559685&quot;:0,&quot;335559737&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}"> </span></p> <p><span data-contrast="auto">Shah and Conrad will be focused on accelerating NYDIG's investment in mining solutions and in its platform technology business, which help enterprises use the Lightning Network.</span><span data-ccp-props="{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559685&quot;:0,&quot;335559737&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}"> </span></p> <p><span data-contrast="auto">"Even during the height of the crypto frenzy in H2 2021, our risk management discipline kept us entirely away from DeFi, centralized lending platforms, and the uncollateralized lending market,” said Ross Stevens, founder and executive chairman of NYDIG in the release. </span><span data-ccp-props="{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559685&quot;:0,&quot;335559737&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}"> </span></p> <p><span data-contrast="auto">“The firm's balance sheet is the strongest it's ever been, and we're now investing aggressively into a capital-starved market. Robby and Yan are delivering the business to Tejas and Nate in phenomenal shape,” he added.</span><span data-ccp-props="{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559685&quot;:0,&quot;335559737&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}"> </span></p> <p><span data-contrast="auto">The shake-up at NYDIG comes at a time when a changing-of-the-guard is occurring across many crypto companies.</span><span data-ccp-props="{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559685&quot;:0,&quot;335559737&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}"> </span></p> <p><span data-contrast="auto">In September, Brett Harrison </span><a href="https://www.theblock.co/post/172744/ftx-us-president-harrison-is-stepping-down"><span data-contrast="none">stepped down</span></a><span data-contrast="auto"> as president of FTX.US and will be moving into an advisory role at the company. Kraken's CEO Jesse Powell also </span><a href="https://www.theblock.co/post/171847/krakens-jesse-powell-stepping-down-as-ceo-of-crypto-exchange"><span data-contrast="none">stepped away</span></a><span data-contrast="auto"> from his role at the crypto exchange but will stay on as chairman of the firm's board of directors.</span><span data-ccp-props="{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559685&quot;:0,&quot;335559737&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}"> </span></p><br /><span class="copyright"><p>© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.</p> </span>