Digital Currency Group (DCG) raised $700 million in a second round of investment. Participants included companies such as SoftBank Group, Ribbit Capital, and Capital G.
According to the news shared by The Block, the collected capital did not go to the company. The company is currently profitable and could generate $1 billion in revenue from the group of companies it owns. The company owns asset manager Grayscale, crypto-asset news agency CoinDesk, and trading platform Genesis.
CEO Barry Silbert said in an interview with the Wall Street Journal that the company has no plans to go public.