Circle Raises $222M ARC Token Presale Led by a16z
Cointelegraph
Circle secured $222 million in an ARC token presale, valuing its new Arc blockchain network at $3 billion.Summary
Circle Internet Group has raised $222 million through a private placement of 740 million ARC tokens, valuing its new Arc layer-1 blockchain at $3 billion. Led by a16z crypto with participation from major firms like BlackRock and Apollo, the initiative aims to establish Arc as a settlement layer for stablecoins and tokenized assets. The ARC token is designed to serve as a native asset for network governance and operations on the platform, which is currently transitioning toward a proof-of-stake consensus model.
(Source：Cointelegraph)