The Digital Currency Group founder, an entrepreneur who built a career in opaque markets, is now contending with a crisis of confidence among investors suddenly panicking about risks they may not see.
The lending arm of Genesis Global Trading suspended new loans and redemptions amid a wave of withdrawals that kicked off as Sam Bankman-Fried’s multibillion-dollar digital empire sank in the Bahamas.
The cryptocurrency conglomerate Digital Currency Group promoted Mark Murphy to president from chief operating officer as part of a restructuring that saw about 10 employees exit the company.