Digital Currency Group (DCG), the parent company behind Grayscale investments and Coindesk has raised the second largest funding in crypto history with a $700 million raise. The funding round was only second to FTX crypto exchange’s mammoth $900 million raise earlier this year. The latest funding round set DCG’s valuation at $10 billion, making it one of the richest crypto companies.
*Crypto Conglomerate Digital Currency Group Raises $700 Million in Investment Round at $10 Billion Valuation
*Digital Currency Group Investment Round Is Second-Largest in Crypto Sector
*Digital Currency Group Owns CoinDesk, Grayscale, Genesis
— *Walter Bloomberg (@DeItaone) November 1, 2021
The funding round was led by Softbank and saw participation from Google’s Capital G and Ribbit Capital as they try to gain more crypto market exposure beyond Bitcoin. DCG’s latest funding round came out of the blue given the firm has only raised $25 million since its inception six years ago.
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