SoftBank and Alphabet lead the investment, Grayscale parent company DCG sells $700 million in stocks, valued at over $10 billion.
The parent company of Grayscale, Digital Currency Group (DCG), has completed a significant secondary financing plan by selling $700 million in stock, with leading investments from Japanese financial giant SoftBank and Google's parent company Alphabet. The company is expected to be valued at over $10 billion.
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DCG is the world's earliest cryptocurrency group, with its subsidiaries including asset management company Grayscale and media outlet CoinDesk. This funding round raised $700 million, making it the second largest investment in the crypto industry, with the company managing assets worth $52.6 billion.
DCG CEO Barry Silbert, in an interview with The Wall Street Journal, stated:
"This financing round saw heavyweight companies such as SoftBank, Alphabet's private equity investment arm CapitalG, venture capital firm Ribbit, Singaporean government investment company, and venture capital firm Tribe joining in, which makes me feel very proud."
Barry Silbert emphasized that this investment was not about raising funds, but rather allowing some early investors to profit and exit, with no one selling all their shares. Silbert himself holds 40% of the company's shares, and he did not sell any shares this time either, stating, "DCG has always been profitable, with expected revenues exceeding $1 billion this year."
In mid-October, Silbert mentioned that DCG is planning to convert its Bitcoin Trust (GBTC) into a physically settled Bitcoin exchange-traded fund (ETF).
This article is authorized and reproduced from Horizon News Network