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Digital Currency Group Raises $700M in Investment Round Led by SoftBank, Attains $10B Valuation

Digital Currency Group Raises $700M in Investment Round Led by SoftBank, Attains $10B Valuation

Digital Currency Group (DCG), a crypto venture capital company and the parent of CoinDesk, raised $700 million in an investment round led by SoftBank.

  • The round valued the firm at $10 billion and included contributions from GIC Capital, Ribbit Capital and CapitalG, the private equity arm of Google’s holding company, Alphabet, the Wall Street Journal reported.
  • Marcelo Claure, chief executive of SoftBank, described DCG as the “single-best asset that gives us the diversity of exposure to crypto, A-Z.”
  • As well as being the parent company of CoinDesk, DCG counts digital asset management firm Grayscale and crypto lender Genesis Trading among its subsidiaries.
  • SoftBank’s previous forays into crypto include blockchain analytics firm Elliptic and Block.one’s new subsidiary crypto exchange, Bullish.

Read more: DCG’s $1B Pledge and an SEC Filing Kindle Fresh Speculation on ‘Grayscale Discount’

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Author: Jamie Crawley


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