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Digital Currency Group Raises $700M in Investment Round Led by SoftBank, Attains $10B Valuation
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The round included contributions from GIC Capital, Ribbit Capital and CapitalG, the private equity arm of Google’s holding company, Alphabet.
Digital Currency Group (DCG), the crypto venture capital company whose holdings include asset manager Grayscale and 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.
By Jamie Crawley