DCG achieves a value of $ 10 billion in secondary sales under the direction of Softbank and CapitalG-
DCG achieves a value of $ 10 billion in secondary sales under the direction of Softbank and CapitalG-
The Digital Currency Group (DCG), a Manhattan-based, cryptofocussed VC conglomerate, has achieved an evaluation of $ 10 billion in a secondary sale in which existing investors have sold. The financing round was headed by Softbank and also included the participation of CapitalG, the Google investment company. Due to the sale, stocks worth $ 700 million changed hands.
Digital Currency Group sells $ 700 million in a second round of sales
Digital Currency Group (DCG), a cryptofocussed company, An Secondary Sale, in which existing investors at New arrivals of the company sold. The transaction, in which shares, worth $ 700 million, changed hands, was directed by Softbank with the participation of CapitalG, the private equity investment company from Google.
This continues the meaning that DCG has in the current crypto -oriented world. With this new investment round, the company's assessment reached $ 10 billion. While the name DCG may appear for some obscur and not recognizable, it serves as a parent company for important brands in the ecosystem. Among them are Greyscale , the largest cryptocurrency asset manager in the world, and Genesis , a cryptocurrency service provider for institutions.
about the sale said Barry Silbert, founder and CEO of DCG:
We are the best proxy for investments in this industry. We were looking for the kind of supporters who could accompany us on this trip over the next few decades.
DCG remains private
While some large companies in the crypto industry have been going to the stock exchange like Coinbase recently, DCG does not seem to be interested in going this way, at least in the foreseeable future. Silbert explained:
The typical reason why companies go to the stock exchange or in a hurry to the stock exchange is to improve liquidity or to obtain money for acquisitions, but we do not have this pressure. I enjoy building this as a private company.
However, Silbert did not rule out a IPO, but at the moment it is unlikely that the DCG has no liquidity problems. In fact, the company is well on the way to generate sales of more than $ 1 billion this year alone.
CapitalG founder David Lawee said this was an investment to benefit from the flexibility that the cryptocurrency world and DCG have. Lawe believes that DCG has the flexibility to adapt to new crypto trends and to stay relevant on the market for a long time.
What do you think of the second round that gave the DCG an assessment of $ 10 billion? Tell us in the comment area below.
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