Bitcoin Investment Firm NYDIG's CEO Robert Gutmann Departs

Bitcoin investment company NYDIG has said CEO Robert Gutmann and President Yan Zhao will leave the company.

Outgoing CEO Robert Gutmann and outgoing President Yan Zhao will remain at Stone Ridge Holdings, the parent firm of NYDIG, which they co-founded alongside Ross Stevens.

NYDIG has promoted executives Tejas Shah and Nate Conrad to be its new CEO and president respectively, according to an announcement on Monday. Shah and Conrad previously served as global head of institutional finance and global head of payments respectively.

"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.

As CEO and president, they will focus on accelerating investments in NYDIG's mining franchise and furthering institutional bitcoin adoption through helping firms harness the Lightning Network, a scaling system designed to increase the speed of sending and receiving bitcoin payments.

Read more: NYDIG to Work With Deloitte in Offering Bitcoin Capabilities to Clients