Why Skills-First Leadership Is Replacing the Ivy League Playbook in the C-Suite
05/23/2025
No Comments
The old prestige pyramid—where Ivy League degrees and blue-chip consulting backgrounds paved the way to the CEO seat—is cracking.
January 9, 2022: -Genesis Trading, the embattled crypto lending arm of Barry Silbert’s Digital Currency Group, has cut its headcount by 30% as it states increasing pressure from creditors and the threat of bankruptcy, a spokesperson stated.
Genesis is laying off 20% of its workforce and last year replaced its CEO. Silbert’s crypto conglomerate, including the Grayscale Bitcoin Trust (GBTC) and mining firm Foundry, was reached by the market tumult of the previous year and the bankruptcy of the crypto hedge fund Three Arrows Capital.
Regarding 60 positions were eliminated, said the source, who asked not to be named as the numbers are confidential. The recent reduction comes a day following interim CEO Derar Islim told clients that Genesis needed more time to solve its financial crisis. The company now has around 145 employees.
Genesis engaged bankruptcy professionals after the collapse of crypto exchange FTX and its sister hedge fund Alameda Research. The Wall Street Journal stated that Genesis had sought an emergency loan of $1 billion shortly following the implosion of Alameda, which was a major Genesis client. Genesis froze savings for all clients after FTX filed for bankruptcy protection on November 11.
Silbert is coming fire as a result of the saving freeze. Earlier this week, Cameron Winklevoss, a Genesis client and CEO of crypto exchange Gemini, accused Silbert of “bad faith” stalling tactics and demanded a solution to the liquidity crisis at Genesis. He stated that DCG owes $1.675 billion to Gemini customers and different Genesis creditors.
On Twitter, Silbert responded that DCG never borrowed $1.675 billion from Genesis and “is current on all loans outstanding.”
The old prestige pyramid—where Ivy League degrees and blue-chip consulting backgrounds paved the way to the CEO seat—is cracking.
Loud leaders once ruled the boardroom. Charisma was currency. Big talk drove big valuations.
But the CEOs who make history in downturns aren’t the ones with the deepest cuts
Companies invest millions in leadership development, yet many of their best executives leave within a few years. Why?
The most successful business leaders don’t just identify gaps in the market; they anticipate future needs before anyone else.
With technological advancements, shifting consumer expectations, and global interconnectedness, the role of business leaders
Zelenskiy–Trump summit boosts markets as equities rise and the dollar steadies amid growing peace hopes. Investors await Fed insights at Jackson Hole for further direction.
Statistics Canada is investigating an accidental early release of June manufacturing data, raising concerns over data governance and market integrity. The agency has launched an internal review to strengthen its publishing protocols.
Investor confidence in France is deteriorating as political gridlock and budgetary uncertainty deepen.
The Fort McMurray First Nation Group of Companies is the wholly owned business entity of Fort McMurray 468 First Nation. It was established in 1987 as Christina River Enterprises, and the organization rebranded as FMFN Group in 2021. Providing Construction, Custodial, Petro-Canada Fuel & Convenience Store, and Transportation services to a broad portfolio of customers, the Group of Companies is creating financial stability and prosperity for the Nation.
Leave us a message
Subscribe
Fill the form our team will contact you
Advertise with us
Fill the form our team will contact you
