Digital Currency Group, the battered crypto conglomerate run by Barry Silbert, named financial services veteran Mark Shifke as chief financial officer.
Shifke has almost four decades of experience in finance and most recently served as CFO at Billtrust, DCG said in a statement Monday. He also served as CFO at mobile banking and prepaid debit-card provider Green Dot, and worked at JPMorgan Chase & Co. and Goldman Sachs Group Inc. Former CFO Michael Kraines left in April after more than two years.
DCG’s lending subsidiary Genesis Global Holdco filed for bankruptcy in January, and both it and its parent are locked in settlement discussions with creditors, including crypto exchange Gemini Trust. In recent months, DCG had shut down several businesses, including TradeBlock subsidiary that provided trade execution. It also is said to be near a deal to sell media property CoinDesk to a syndicate of investors.
DCG is the parent company of a number of subsidiaries including crypto-asset manager Grayscale Investments and crypto miner Foundry. DCG posted revenue of $216 million in the second quarter, up 17% sequentially, according to its shareholder letter that went out Monday.
