Digital Currency Group was estimated at $ 10 billion
Digital Currency Group (DCG) Barry Silbert was estimated at $ 10 billion following a private sale of securities by existing shareholders worth $ 700 million.
Proud to Welcome SoftBank, Capitalg, Ribbit, Gic, Tribe and Emory to an Alread Fantastic List of DCG South Korea continues ShareHolders
And Even More Proud of the ~ 1,000 Employees of @dcgco and Oour Wholly-owned Subsidiaries That Made This this This this.CO/UAJWLKXV4D
– Barry Silbert (@barrysilbert) November 1, 2021
Capitalg (investment company under the control of Alphabet Inc), SoftBank (Vision Fund 2 and Latin America Fund) and Ribbit Capital participation.
According to WSJ, SoftBank Executive Director Marcel Claire described DCG as “the only best asset that gives us a wide range of opportunities for working with cryptocurrencies”.
Silbert in the commentary of CNBC did not exclude the possibility of access to an IPO, but emphasized that this is “not discussed right now”. According to him, the company is profitable.
“The typical reason for which companies go to the exchange or hurry to become public is to solve the problem of liquidity or attract money for acquisition, there is no such pressure,” he said.
Silbert, who owns about 40% DCG, did not participate in the sale of shares.
The Block with reference to DCG specified that the transaction allowed the early investors to “get some profit from their investments in the company”.
The group includes the Grayscale Investments Management Company, Genesis Prime-Broker, Coindesk, absorbed in September 2020, Luno cryptocurrency exchange and Foundry mining company.
Recall that in September, SoftBank through Vision Fund 2 supported the Blockdaemon blockchain company in an investrandus of $ 155 million.