Privacy protocol Umbra, incubated by Arcium, has successfully raised $154.9 million in USDC during its initial coin offering (ICO) on MetaDAO, significantly surpassing its original $3 million cap. The Solana-based project attracted 10,518 participants, with investors receiving approximately 2% of the token allocation at a price of $0.30 per UMBRA. The funds raised will be allocated towards the development of a privacy exchange, a redesigned user interface, and a Zcash-Solana bridge. These developments are scheduled to launch alongside Arcium's mainnet Alpha version, marking a significant step forward for the project.