Digital Currency Group Appoints Mark Shifke as Chief Financial Officer

Digital Currency Group (DCG) has hired Mark Shifke as chief financial officer, filling the gap left when former CFO Michael Kraines stepped down in April.

The finance department of DCG, which is the parent company of CoinDesk, had been run on an interim basis by Chief Strategy Officer Simon Koster.

DCG was hit hard by the collapse of the crypto market last year, and its Genesis lending division ended up in bankruptcy court. The company lost $1.1 billion in 2022 amid citing plunging crypto prices and the restructuring of Genesis.

“DCG has long stood out to me as the leading and most well-respected operator, investor, and backer of the brightest minds in the digital asset space,” Shifke said in a statement. “As the industry matures and digital assets continue to gain momentum from institutional stalwarts, I can’t think of a more exciting opportunity.”

Shifke previously served as CFO at Billtrust, which develops accounts receivable–software for companies, and CFO of Green Dot, a mobile-banking company and payments platform used by Apple, Walmart and Intuit.

“Following a comprehensive search for DCG’s next finance leader, I’m proud to welcome Mark Shifke as our new CFO,” DCG founder and CEO Barry Silbert said in a statement.