Bitcoin investment firm NYDIG’s CEO Robert Gutmann and President Yan Zhao are leaving their positions at the company, the firm announced on Monday morning.
NYDIG is promoting Tejas Shah to CEO, and Nate Conrad to president. Shah was most recently NYDIG’s global head of institutional finance. Prior to joining NYDIG in 2020, Shah was partner at Goldman Sachs for nearly two decades. Conrad was most recently NYDIG’s global head of payments, who also joined NYDIG in 2020 from Goldman Sachs.
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Gutmann and Zhao will remain at NYDIG’s parent company Stone Ridge Holdings Group, which they co-founded with Ross Stevens in 2012. Gutmann will continue to serve on the NYDIG board.
Shah and Conrad will focus on accelerating NYDIG’s investment in its mining solutions franchise, and in its platform technology business, “helping banks and nonbank enterprises use the Lightning Network for next-generation wallets and global payments,” according to a statement from the company.
NYDIG most recently raised $720 million for its institution digital asset fund from 59 investors, according to a Securities and Exchange Commission filing.
Read More: Bitcoin investment company NYDIG adds new CEO and president
