Circle Raises $222 Million for ARC Token at $3 Billion Valuation

cryptoblockchainsbusinessvc 2 posts · 2 accounts

Circle raised $222 million in a token presale for ARC, the token of its new Arc blockchain, at a $3 billion fully diluted valuation. Investors named in the sale included a16z crypto, BlackRock and Apollo.

USDC will be used as gas on the chain, with ICE and Standard Chartered also listed among the backers.

From the sources (2 posts)

@bitcoinnews

Circle’s ARC token already raised $222M at a $3B FDV. USDC will be used as gas on the chain, and the cap table is packed with names like BlackRock, Apollo, a16z, ICE, and Standard Chartered. @graminitha1 @2084Richardson

@humanjets

Circle raised $222 million in a token presale for its new Arc blockchain at a $3 billion fully diluted valuation, with backing from a16z crypto, BlackRock, Apollo, and others.

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