Digital Currency Group Wants to Be Crypto’s Standard Oil

Digital Currency Group Inc., a cryptocurrency conglomerate that counts the asset-management firm Grayscale and media company CoinDesk among its holdings, raised $700 million in an investment round, the second-largest in the crypto sector.

The funding round valued the company at $10 billion and was led by SoftBank Group Corp.’s Vision Fund 2 and Latin America Fund, and included GIC Capital, Ribbit Capital and Alphabet Inc.’s CapitalG.