Last Updated on May 3, 2023 by Bitfinsider
Digital Currency Group’s first-quarter revenue increased relative to the previous quarter, but still lagged behind the same period last year.
First-quarter revenue was $180 million, a 63% increase from the previous quarter. This is 46% less than the first quarter of 2022, when bitcoin traded for approximately $40,000.
“DCG’s financial performance so far this year is reflective of the market,” the letter stated.
The company also disclosed that DCG Chief Financial Officer Michael Kraines resigned in April. Mark Murphy, president of DCG, and Simon Koster, chief strategy officer, are co-leading the finance department while Heidrick & Struggles searches for a new financial officer. Kraines held the position of CFO since March 2021.
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