Share this article
Digital Currency Group Promotes Mark Murphy to President, Cuts Nearly 13% Staff: Report
Around 10 employees left the Connecticut-based firm, bringing its headcount to 66.
Updated May 9, 2023, 4:01 a.m. Published Nov 2, 2022, 8:49 a.m.
Crypto venture capital company Digital Currency Group (DCG) has promoted Chief Operating Officer Mark Murphy to president amid a restructuring in which some 13% of its staff departed, Bloomberg reported on Wednesday.
Around 10 employees left the Stamford, Connecticut-based firm, bringing its headcount to 66, the report said, citing a person familiar with the matter.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Murphy has become the firm's first president, having been at DCG for over four and a half years, including nearly three as COO.
DCG is the parent company of CoinDesk, as well as digital asset manager Grayscale Investments and crypto brokerage Genesis Trading.
Genesis has also cut large swathes of its staff in recent months after suffering massive losses to Three Arrows Capital after the hedge fund filed for bankruptcy. Genesis has filed a $1.2 billion claim.
Crypto firms across the industry have been forced to make cuts to their headcount since the market hit a slump this summer. According to CoinDesk estimates, 11,700 crypto jobs had been lost since the beginning of April, based on media reports and press releases.
DCG did not immediately respond to CoinDesk's request for comment.
Read more: Crypto Finance Firm Galaxy Digital to Cut One-Fifth of Workforce: Sources
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Interactive Brokers Now Accepts Stablecoins in a Bid to Remain Competitive
The firm has begun offering stablecoin account funding for U.S. retail clients, joining a growing list of brokerages racing to keep pace with crypto-native rivals.
Top Stories
