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Google's Parent Increases its Crypto Bet by Joining Massive DCG Investment Round
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Google’s parent company Alphabet is taking another step into the world of crypto by joining a new funding round for Digital Currency Group (DCG), the owner of Grayscale Investments, which increased DCGs market valuation to USD 10bn.
The funding round, which was led by the major Japanese venture firm SoftBank, brought in USD 700m for the privately held firm, making it the second-largest in the crypto sector to date, according to a report in the Wall Street Journal.
Meanwhile, Alphabet’s investment in DCG totaled about USD 100m, and was done through its CapitalG, a venture capital fund with USD 3bn under management.
Commenting on the funding round during an interview, Barry Silbert, founder & CEO of DCG, said the funding round was not to raise
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