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Digital Currency Group sells $700M of shares for investors to take profits
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Digital Currency Group (DCG), one of the largest companies in the cryptocurrency industry, has completed a major secondary investment round led by Japanese financial giant SoftBank.
DCG has sold $700 million worth of shares to companies like Google’s parent company, Alphabet, to bring its valuation to more than $10 billion, the company officially announced Monday.
“Proud to welcome SoftBank, CapitalG, Ribbit, GIC, Tribe and Emory to an already fantastic list of DCG shareholders. And even more proud of over 1,000 employees of DCG and our wholly-owned subsidiaries that made this happen,” DCG CEO and founder Barry Silbert said.
In a Wall Street Journal interview, Silbert emphasized that the investment wasn’t about raising capital for DCG but
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