Digital Currency Group is said to be valued at $10B in new fundraising round

Digital Currency Group, the parent company behind Grayscale Investments and media company CoinDesk, is said to have raised $700M in a new investment round and values the company at $10B. The new round was led by Softbank (OTCPK:SFTBY) and included Google's (NASDAQ:GOOGL) Capital G and Ribbit Capital, according to media reports. The fundraising round is the second-largest in the crypto sector, according to a WSJ report. “We’re the best proxy for investing in this industry,” Barry Sibert, founder and CEO of Digital Currency Group, told CNBC in an interview. “We were looking for the type of backers that could be, and hopefully will be with, with us on this journey for the next couple of decades.” Last month, DCG plans to buy up to $1B of subsidiary Grayscale Bitcoin Trust.