Cryptocurrency staking platform Everstake appoints Grayscale and Fidelity veteran David Kinitsky as its new CEO

Cryptocurrency staking platform Everstake has appointed Grayscale and Fidelity veteran David Kinitsky as its new chief executive officer, the company said on Wednesday.

Cryptocurrency staking platform Everstake has named Grayscale and Fidelity veteran David Kinitsky as its new chief executive officer.

Kinitysi is replacing Sergii Vasylchuk, who founded Everstake in 2018 and will now transition to the role of its president. The leadership change marks Everstake’s acceleration into institutional and broader global markets, according to a press release.

“With 25 years of experience in capital markets, launching and scaling successful financial products and technologies, David brings a wealth of knowledge and experience to Everstake as we enter the next phase of our journey,” Vasylchuk said in a prepared statement.

Everstake is a cryptocurrency liquid staking platform that allows users to participate in so-called proof-of-stake blockchains to earn yield on their crypto assets. The startup’s platform currently supports 85 blockchain networks, has onboarded over 735,000 users into staking, and secured $6.5 billion in delegated assets.

The arrival of a crypto-friendly administration in the U.S. is expected to bring further clarity on staking and its inclusion in assets underlying the ETF marketplace.

“As staking becomes central to institutional crypto strategy and an investable asset in its own right, now we’re taking Everstake to the next level: reinvesting in the core staking business, scaling to meet institutional demand, and thoughtfully expanding into adjacent opportunities across infrastructure, data, and financial products,” Kinitsky said.

Prior to joining Everstake, Kinitsky was the founding general manager of Grayscale Investments, where he led the build and launch of Grayscale’s institutional-grade liquid asset products. He has also held executive roles at Fidelity Investments, Circle, and Kraken.

At Fidelity, Kinitsky was a vice president and the founding member of the company’s digital assets group, where he oversaw the launch of Fidelity’s bitcoin fund and institutional-grade custody solutions. At Circle, he was the chief operating officer and oversaw the development and launch of several new products and services.

Everstake is a graduate member of the Center for Advanced Studies in Collective Impact.