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Digital Currency Group Revenue Up From Fourth Quarter, Lags Year Earlier as CFO Steps Down

Digital Currency Group rode the cryptocurrency rally over the first quarter to post revenue that topped the previous quarter, but still lagged the year-ago period.

The group's first quarter revenue totaled $180 million, up 63% from the fourth quarter. That's still down 46% from the first quarter of 2022, when bitcoin traded about $40,000.

“DCG’s financial performance this year so far is reflective of the market,” the letter said. 

The firm also shared that DCG Chief Financial Officer Michael Kraines stepped down from his role in April. DCG President Mark Murphy and Chief Strategy Officer Simon Koster are co-leading the finance department while executive search company Heidrick & Struggles look for a new financial officer. Kraines had been CFO since March 2021.

(by Stephanie Murray)

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