Silbert's Digital Currency Group Announces Major Fundraise from MasterCard, CIBC, and Others
Barry Silbert, Founder of the recently acquired SecondMarket, announced at Money20/20 that the Digital Currency Group had raised its round of capital. Digital Currency Group, otherwise known as DCG, was formed when Genesis Global Trading-a bitcoin OTC trading firm-and Grayscale Investments-a digital currency asset management firm that manages Bitcoin....
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MasterCard is backing Barry Silbert's newest initiative, Digital Currency Group, his first since selling SecondMarket to Nasdaq last week. Many believe this marks a major development in the Bitcoin space as the digital currency flirts with the $300 level. Silbert has gained the support of big-time backers for the new conglomerate focused exclusively on Bitcoin and other block chain technologies. The new company, Digital Currency Group (DCG), will include Silbert's over-the-counter Bitcoin trading firm, Genesis Global Trading, as well as Grayscale Investments, a digital currency asset....
Payments giant MasterCard has been named as one of 11 investors in Digital Currency Group's (DCG) new funding round. The undisclosed raise, announced today, attracted support from billion-dollar brands across multiple sectors including Canadian bank CIBC, insurer New York Life and TransAmerica Ventures, the VC fund owned by Aegon and TransAmerica. It marks the first investment in the bitcoin and blockchain sector for all but four of the firms involved. DCG founder and CEO Barry Silbert said in a statement: "It is our mission to accelerate the development of a better financial system, and....
Founder and CEO of SecondMarket Barry Silbert announced last July that he would be stepping down after nearly 11 years to focus solely on Bitcoin-related projects. Friday morning Silbert tweeted the name, Digital Currency Group (DGC). Marking its launch as an important step in separating his focus from SecondMarket. Digital Currency Group is only the latest of Silbert's Bitcoin ventures. Followers of the young cryptocurrency are certainly familiar with the other companies benefiting from his investments. Bitpay, Coinbase, Circle, Gyft and Kraken are among the 30+ companies to receive funds....
The virtual currency market has another reason to rejoice. Barry Silbert's Digital Currency Group (DCG) has successfully raised money from at least 11 firms with fresh funding from companies like Bain Capital Ventures and MasterCard. As per Bloomberg, the other investors are Canadian Imperial Bank of Commerce and New York Life Insurance. Further, a CNBC report stated that other investors are the FirstMark Capital, Oak HC/FT, Novel TMT, RRE Ventures, Transamerica Ventures, and Solon Mack Capital. Silbert made an announcement on this development at the Money 20/20 financial technology....
The price of ZEC surged to $243.84 following Silbert’s announcement but has still fallen more than 20% since reaching a six-month high of more than $300 on Thursday. Digital Currency Group CEO and founder Barry Silbert has purchased more ZCash to add to his company’s coffers as the price of the token moved above $240 for the first time in days.In a Wednesday tweet to his more than 678,000 followers, Silbert announced the purchase of $85 million in Zcash (ZEC), or roughly 376,106 tokens assuming an average price of $226. The buy is just the latest for Silbert, who seems to be portraying....