Digital Currency Group Achieves $10B Valuation in $700M Secondary Sale
Two SoftBank funds, GIC Capital, Ribbit Capital and CapitalG, the private equity arm of Google’s holding company, Alphabet, took part.
Nov 1, 2021 at 12:24 p.m. UTCUpdated May 11, 2023 at 7:03 p.m. UTC
:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/P6QS2ETG3VFBHPHHGKNRFCF4OI.jpg)
CORRECTION (Nov. 1, 13:05 UTC): Corrects that transaction was a secondary sale of DCG shares, did not raise new funds.
Digital Currency Group (DCG), the crypto investment company whose holdings include asset manager Grayscale, crypto lender Genesis and independent news outlet CoinDesk, sold $700 million of stock in a private sale led by a pair of SoftBank funds.
00:57
What Do EigenLayer's Outflows of $2.3B Signal?
04:20
What Do TradFi Crypto Moves Mean for Decentralization?
02:02
Marathon Digital Buys $100M BTC; India's Special Task Force for Crypto-Related Drug Trafficking
00:53
Ether Slides as Grayscale's ETHE Outflows Ramp Up
- The sale valued the firm at $10 billion and was led by SoftBank funds Vision Fund 2 and Latin America Fund. GIC Capital, Ribbit Capital and CapitalG, the private equity arm of Google’s holding company, Alphabet, also participated, 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.”
:format(webp)/s3.amazonaws.com/arc-authors/coindesk/008ae87f-5c6e-412b-816b-ded600ac5054.png)
Jamie Crawley is a CoinDesk news reporter based in London.