Digital Currency Gruop Layoffs
November 2022
Digital Currency Gruop announced a layoff affecting 10 employees (13% of its workforce) in November 2022. The company operates in the Crypto sector.
10
13%
Nov 2, 2022
About
In May 2023, Digital Currency Group (DCG), a major crypto venture capital firm and parent company of Grayscale and CoinDesk, laid off around 10 employees, representing nearly 13% of its workforce and reducing total staff to about 66. This restructuring, which coincided with the promotion of Mark Murphy to president, was part of broader industry-wide cutbacks driven by a severe market downturn. The crypto sector had seen significant job losses since early 2022, with DCG's subsidiary Genesis also facing substantial layoffs following losses linked to the collapse of hedge fund Three Arrows Capital.
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