Andreessen Horowitz · Circle · AI Agent · CNBC Technology
Circle raises $222 million from BlackRock, Apollo and others in Arc token presale valued at $3 billion
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Circle Internet Group has raised $222 million in the presale of Arc, the native token of its new blockchain, as the company looks to expand beyond its core business of issuing the USDC stablecoin, CNBC has learned.
Key facts
- Circle Internet Group has raised $222 million in the presale of Arc, the native token of its new blockchain, as the company looks to expand beyond its core business of issuing the USDC stablecoin
- Andreessen Horowitz served as the lead investor in the raise with a $75 million investment
- The raise gives Arc a fully diluted network valuation of $3 billion
- As a 25% stakeholder in Arc's initial supply of 10 billion tokens, Circle can participate in operating validator infrastructure, generating new fee revenue and earning staking income
Summary
Andreessen Horowitz served as the lead investor in the raise with a $75 million investment. The raise gives Arc a fully diluted network valuation of $3 billion. " infrastructure is becoming as important as mobile operating systems or cloud platforms," Circle CEO Jeremy Allaire told CNBC in an exclusive interview. "We're becoming a broader internet platform company," Allaire added.