Digital Currency Group Completes $600M Debt Capital Raise

This new debt capital raise comes shortly after DCG raised $700 million in the beginning of November, at a $10 billion valuation.

article-image

Digital Currency Group founder and CEO Barry Silbert; Blockworks exclusive art by axel Rangel

share

key takeaways

  • DCG is a parent company of six cryptocurrency-based companies: Genesis, Grayscale, CoinDesk, Foundry, Luno and most recently TradeBlock
  • “This financing strengthens our ability to respond dynamically to opportunities in the market,” DCG Founder and CEO Barry Silbert said in a statement

Digital Currency Group (DCG) has completed a debt capital raise up to $600 million to provide a credit facility, the company reported on Thursday. This is the company’s first move in debt capital markets and the debt financing is intended to serve the group’s strategic, operational and financial capabilities by reducing its cost of capital.

The raise was led by Eldridge, which also served as an administrative agent for the credit facility alongside other institutional lenders and funds managed by Capital Group, Davidson Kempner Capital Management, and Francisco Partners, among others, it said. 

DCG is a parent company of six cryptocurrency-based companies: Genesis, Grayscale, CoinDesk, Foundry, Luno and most recently TradeBlock. Digital asset manager Grayscale is the largest in the group, which oversees $60.8 billion in assets under management, Blockworks recently reported

The conglomerate was founded in 2015 as a global investment company that has invested in more than 200 blockchain-based businesses across 35 countries, it said. 

“This financing strengthens our ability to respond dynamically to opportunities in the market,” DCG Founder and CEO Barry Silbert said in a statement. 

This debt capital raise comes shortly after DCG raised $700 million in the beginning of November, bringing its valuation to $10 billion at the time. The investment round was led by SoftBank Group, Alphabet Inc.’s growth fund CapitalG and Ribbit Capital. 

The $700 million investment also wasn’t about raising funding for the company, Silbert told the Wall Street Journal at the time, but was rather an opportunity for early investors to take profits. While some DCG investors took profits, Silbert was not among them and continues to own almost 40% of the company.
To date, DCG’s portfolio has raised $1.1 billion, according to the company’s website.


Get the day’s top crypto news and insights delivered to your inbox every evening. Subscribe to Blockworks’ free newsletter now.


Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Unlocked by Template (10).png

Research

Innovations on Aptos’ technical design through Raptr, Shardines, and Zaptos approach near-optimal latency and throughput by unlocking 100% utilization of network resources, with the capacity to settle 260k transactions per second with latencies less than 800ms. The original Move language was revamped with the launch of Move 2, supporting more expressivity in smart contract logic and a scalable ability to interact with high volume datasets. The ecosystem has benefitted from strong asset inflows, now hosting over $1.3B in stablecoins, $450M in bridged BTC, and $530M in RWAs. Activity in the Aptos ecosystem has grown notably over the past year, with monthly application revenue reaching ~$835k and monthly DEX volumes growing to over $5B, both at new all time highs.

article-image

Interchain Labs will focus on sovereign L1s and institutional demand, abandoning plans for smart contracts on the Cosmos Hub

article-image

Also, only three tokens have outperformed bitcoin so far this year: XMR, HYPE and SKY

article-image

The fund group has submitted proposals in recent months for other funds that would hold litecoin, solana, XRP, HBAR, Sui and others

article-image

Momentum’s back — BTC leads, risk assets follow

article-image

Ondo Finance’s acquisition of blockchain development company Strangelove follows its buy of Oasis Pro

article-image

Cryptocurrency and stock traders alike had a lot to unpack Wednesday