Google and SoftBank Enter $700M Crypto Investment

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  • Softbank, a multinational investment bank based in Japan, has joined Google’s parent company Alphabet Inc. in a $700 million dollar investment round in Digital Currency Group (DCG)

  • DCG is one of the largest institutions in the crypto space, owning Grayscale Investments LLC, the media site CoinDesk, crypto brokerage Genesis Global, and more. The parent company is now valued at about $10 billion, where the funding round was led by SoftBank Group, Ribbit Capital, and Alphabet Inc as per the Wall Street Journal.

  • SoftBank Group International CEO Marcelo Claure has stated that investing in DCG is “basically the single beset asset that gives us the diversity of exposure to crypto, A-Z.”

  • Barry Silbert, CEO and founder of DCG, has stated that the company has no intention of going public. “It is not only not in the works, it’s not even being discussed,” said Silbert.

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