Digital Currency Group Names Murphy President, Cuts 10% of Staff
- DCG is the parent company of Grayscale, brokerage Genesis
- Several crypto firms have instituted layoffs amid downturn
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Cryptocurrency conglomerate Digital Currency Group promoted Mark Murphy to president from chief operating officer as part of a restructuring that saw about 10 employees exit the company.
Notices to those impacted by the reshuffling at the Stamford, Connecticut-based firm, which controls asset-manager Grayscale Investments and brokerage Genesis, among others, went out last week, according to a person familiar with the matter. DCG, run by founder and Chief Executive Barry Silbert, has 66 employees left following the reorganization.