May 13
Circle bets on $3B Arc blockchain with $222M token presale
Circle raised $222M in an ARC token presale at a $3B valuation, backed by Andreessen Horowitz, BlackRock, and ICE, for its upcoming Arc blockchain.
➤ Circle, the issuer of USDC, has raised $222 million in a token presale for its upcoming Arc blockchain, achieving a $3 billion valuation. ➤ The presale saw significant backing from major financial players like Andreessen Horowitz, BlackRock, and ICE, marking a novel approach by a publicly traded company to fund a pre-launch blockchain. ➤ This move signals Circle's strategy to diversify revenue beyond stablecoin issuance amidst financial pressures, while introducing regulatory complexities and potential shifts in the stablecoin market.
