
Associate, Liquid Tokens
What You’ll Be A Part Of:
Founded in 2015 by CEO Barry Silbert, Digital Currency Group is the most active investor in the blockchain sector with a mission to accelerate the development of a better financial system through the proliferation of digital assets and blockchain technology. Today, DCG sits at the epicenter of the industry, backing more than 200 blockchain-related companies in over 35 countries. DCG also invests directly in digital currencies and other digital assets.
We passionately believe digital currency and blockchain technology will drive global economic and social change. Our unique model enables us to deploy our resources to build over the long term.
What is the Role:
We are looking for a research-forward liquid token investing Associate to help drive DCG’s liquid-token efforts in the US, reporting to the Head of Liquid Token Investments. This role blends fundamental and on-chain research with underwriting and position management in publicly traded digital assets. The ideal candidate brings strong analytical rigor, exceptional written communication, and a track record of turning complex protocols, tokenomics, and market structure into clear theses, investment memos, and actionable views.
What You’ll Be Responsible For:
- Identify and evaluate liquid token investment opportunities across crypto markets (spot tokens, protocols, DeFi, layer-1/layer-2 ecosystems, and emerging digital assets); lead the underwriting process from sourcing and initial research through diligence, investment committee materials (memos/teardowns), and coordination with legal/compliance on structuring and execution.
- Produce high-quality written research (sector maps, protocol deep dives, tokenomics analyses, and investment theses) that can be used internally for decision-making.
- Stay deeply current on key trends, market dynamics, tokenomics, on-chain data, macro/regulatory developments, and sentiment drivers in crypto (with a focus on the US market); build repeatable research frameworks (dashboards, watchlists, and KPI sets) to anticipate, investigate, and map opportunities in fast-evolving sectors.
- Manage, grow, and maintain a robust network of relationships with token projects, protocol teams, exchanges, market makers, liquidity providers, other liquid funds, and key industry participants to source high-conviction ideas and stay at the forefront of liquid crypto markets.
- Test, measure, and iterate on alternative, data-driven sourcing channels for liquid opportunities, including on-chain analysis, secondary markets, OTC desks, launchpads, and ecosystem partnerships; build and maintain a structured coverage universe and idea pipeline.
- Collaborate with DCG's post-investment and platform teams to monitor portfolio token performance, provide value-add insights (e.g., market positioning, liquidity strategies), and support ecosystem growth where applicable.
- Contribute to building DCG's brand in liquid crypto markets through thought leadership, PR initiatives, event participation, and raising our profile among traders, protocols, and institutional participants.
What You’ll Bring:
- Bachelor’s degree (finance, economics, business, computer science, engineering, or related field); advanced degree or CFA/equivalent a plus.
- 2–4 years of relevant experience in crypto markets, ideally with direct involvement in liquid token investing, trading, or research (e.g., buy-side, prop trading, market-making, or a leading crypto research firm).
- Demonstrated crypto research skillset: publication-quality writing, sector mapping, protocol/token teardowns, narrative formation, and comfort owning a coverage universe end-to-end.
- Strong understanding of crypto market structures, tokenomics, on-chain metrics, liquidity dynamics, and price drivers; prior experience analyzing and investing in liquid digital assets required.
- Demonstrated passion for crypto; prior hands-on experience in DeFi, trading, fintech, or related blockchain ecosystems a plus.
- Established network in liquid crypto markets (e.g., with protocols, exchanges, funds, or builders) and proven ability to build and manage high-value relationships.
- Ability to quickly learn emerging trends, synthesize complex information, and stay ahead in a fast-paced, 24/7 market environment.
- Analytical mindset with strong quantitative skills; comfort with on-chain analytics and data tooling (e.g., dashboards/queries), tokenomics/valuation frameworks, financial modeling, and risk assessment.
- Self-directed, efficient, and able to operate independently while being collaborative and team-oriented.
- Open-minded yet decisive in high-uncertainty environments.
- Excellent communication skills, especially written: ability to author clear research reports, investment memos, and IC-ready materials; strong verbal skills for presentations and investment discussions.
What We Offer:
- Inspiring colleagues and an invigorating start-up environment
- Competitive base salary, bonus and incentive compensation
- Company paid health insurance for employee, partner and dependents
- Life insurance, short-term & long-term disability coverage
- 401K plan
- Pre-tax transit and parking program and flexible spending programs for medical and dependent care
- Unlimited PTO / Flexible time off
- Paid parental leave
- New water-front office with world-class perks and amenities
We are an equal opportunity employer and value diversity at our company. We do not discriminate based on race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status.
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