Mark Shifke Hired as CFO of Digital Currency Group
Digital Currency Group (DCG) has hired Mark Shifke as its new chief financial officer (CFO), filling the position left vacant by Michael Kraines. The finance department had been temporarily led by Chief Strategy Officer Simon Koster. DCG, the parent company of CoinDesk, experienced significant losses in 2022 due to the collapse of the crypto market and the bankruptcy of its Genesis lending division.
Key Points:
– Mark Shifke has been hired as the new CFO of Digital Currency Group, replacing former CFO Michael Kraines.
– The finance department had been managed on an interim basis by Chief Strategy Officer Simon Koster.
– DCG suffered losses of $1.1 billion in 2022, primarily due to the collapse of the crypto market and the restructuring of its Genesis lending division.
– Shifke previously served as CFO at Billtrust and Green Dot, both prominent companies in the financial technology industry.
– DCG’s founder and CEO, Barry Silbert, expressed excitement about Shifke’s appointment and his experience in the digital asset space.
Hot Take
Mark Shifke’s appointment as CFO of Digital Currency Group comes at a crucial time for the company, as it seeks to recover from significant losses in the crypto market. With his extensive experience in financial technology and previous roles as CFO, Shifke brings valuable expertise to help steer DCG towards future success. This hiring decision showcases DCG’s commitment to strengthening its leadership team and navigating the evolving landscape of digital assets.
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