Venture Capital firm Digital Currency Group (DCG) has promoted Mark Murphy to president from the chief operating officer as part of a restructuring.
According to Bloomberg report, in the restructuring, several team members were laid off by DCG, and now 66 employees left following the reorganization.
Notices to those 10 employees 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.
Following the restructuring, the DCG team is now going with Murphy as DCG’s first president, Jenn Goodson as a chief administrative officer, Simon Koster as chief strategy officer, and Matt Kummell as senior vice president of operations. Amanda Cowie is now overseeing communications, marketing and events.
According to a spokesperson, “We recently made a series of internal changes to position DCG for its next phase of growth, including a streamlining of our departments alongside several promotions on our leadership team”.
Previously in August, due to the 3AC bankruptcy, DCG owned Genesis trading had to slash its workforce by 20%.
