Digital Currency Group (DCG) has announced the hiring of Mark Shifke as its new Chief Financial Officer (CFO). Shifke is taking over the role from former CFO Michael Kraines, who 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 experienced a difficult year in 2022, with its Genesis lending division ending up in bankruptcy court and the company losing $1.1 billion due to the collapse of the crypto market and the restructuring of Genesis. Despite this, Shifke expressed his enthusiasm for the role, saying: “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. As the industry matures and digital assets continue to gain momentum from institutional stalwarts, I can’t think of a more exciting opportunity.”
Prior to joining DCG, Shifke 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. DCG founder and CEO Barry Silbert welcomed Shifke to the team, saying: “Following a comprehensive search for DCG’s next finance leader, I’m proud to welcome Mark Shifke as our new CFO.”