Digital Currency Group (DCG), a crypto company behind CoinDesk and Grayscale Investments, has raised $700 million from various investors, including Vision Fund 2, CapitalG and Rabbit Capital. According to The Wall Street Journal, the latest funding round brings the company's total valuation to $10 billion.
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DCG Founder and Chief Executive, Barry Silbert, said the company plans to get approximately $1 billion in revenue from its wholly owned businesses this year and "has been profitable every year since its founding." Silbert also says the funding was an opportunity for early investors to exit and take profits.
He also told CNBC in an interview that an IPO is an option for the company in the future, however it is "not in the plans and not being discussed right now." Silbert, did not sell any of his shares. He still owns nearly half (40%) of the firm.
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