Circle announced it raised $222 million in a token presale for its new Layer 1 blockchain Arc, which focuses on corporate finance, reaching a $3 billion fully diluted valuation. The funding round was led by Andreessen Horowitz (a16z crypto) with a $75 million contribution, alongside investors including BlackRock, Apollo Global Management, Intercontinental Exchange, SBI Group, ARK Invest, and Standard Chartered Ventures. This makes Circle the first publicly traded company to conduct a token presale.
Circle’s Q1 2026 financial results showed total revenue and reserve earnings increased 20% year-over-year to $694 million. USDC in circulation grew 28% to $77 billion, while on-chain USDC transaction volume surged 263% to $21.5 trillion. USDC will serve as the gas token for Arc, reducing reliance on networks like Ethereum and Solana.
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