Circle, the stablecoin issuer, has successfully raised $222 million in a presale of its new Arc token, leading to a 15% surge in its shares to $130. The presale values Arc at a fully diluted network valuation of $3 billion. Circle CEO Jeremy Allaire described Arc as a foundational blockchain infrastructure akin to major technology platforms, aiming to transform business operations.
The presale attracted significant investment, with Andreessen Horowitz leading with $75 million. Other notable investors include BlackRock, Apollo Funds, and Intercontinental Exchange. Arc is designed to support institutional finance, with Circle holding a 25% stake in its initial 10 billion token supply, allowing it to participate in validator infrastructure and earn staking income. Additionally, Circle introduced tools to help developers build AI agents for managing transactions and payments using USDC.
Circle Raises $222M in Arc Token Presale, CRCL Shares Jump 15%
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