Micheal Kraines Named New CFO Of Digital Currency Group
The paradigm shift in the cryptocurrency space has not only seen the emergence of new technology outfits in the space, but the terrain has also started to witness the migration of world-renowned talents into its coffers. Many Blockchain technology firms have sought professional expatriates from several fields outside the space to bring further innovation into space. Digital Currency Group, the parent company of Grayscale, Genesis Trading, and many more blockchain affiliated firms. have now announced on their official Twitter handle that Micheal Kraines will serve as its new Chief Financial Officer.
Micheal Kraines has the perfect CV for the role
Micheal Kraines is the first CFO of the cryptocurrency conglomerate, and his presence at the firm is coming with great expectations from all within and outside the cryptocurrency space. Micheal Kraines, who had previously worked as an attorney across many business spheres in the U.S, has dedicated his entire career to helping businesses grow. The Harvard law school graduate currently served as a board member of CoinFLEX and Trading Technologies Incorporation before his Digital Currency Group appointment (DCG).
Apart from Grayscale and Genesis Trading, the company also owns a few crypto mining firms across the world and a crypto exchange. DCG also owns a famous crypto media company, CoinDesk, amongst a few other crypto-focused ventures. However, the role of Micheal Kraines will be to ensure that all of the firms under the arm of DCG continue to flourish. Barry Silbert, CEO of DCG, believes that Micheal’s wealth of experience makes him the perfect fit for the job. Silbert also believes that Micheal’s reputation for being a successful expatriate everywhere he has been making him the group’s preferred person for the role. He is delighted that Micheal had considered joining DCG.
DCG unlikely to go public soon
However, while Micheal’s appointment as the first CFO has been met with applause, a few individuals around DCG believe that the company will likely go public soon, hence the appointment of its first CFO. The usual belief behind a CFO appointment in business is usually affiliated with a company going public. However, a top executive of the company who wanted to be anonymous has confirmed to the press that DCG is unlikely to go public soon, as its focus is solely on other expansion plans.
Micheal’s appointment is purely a business decision, and according to the CEO of DCG, Micheal will be a core part of DCG’s trajectory to fortunes soon. Micheal Kraines has also expressed his delight in being a core member of another crypto community, as the business expert had served one or two roles in previous Blockchain firms.
He also believes that the cryptocurrency space boom has continued to attract many traditional firms into space, and he doesn’t see that changing soon. However, he believes that the influence of such large corporations in the crypto space has been a core part of their growth and will remain to be, even in the nearest future.