Circle's Arc raised $222 million, with a $3 billion valuation: a chain built specifically for stablecoins, what makes it attract investments from BlackRock, Apollo, a16z, and the parent company of the NYSE?
On May 11, Circle announced the completion of the Arc token presale, raising $222 million with a fully diluted valuation of $3 billion. 740 million ARC tokens were sold at $0.30 each, accompanied by multi-year lock-up terms.
This is the first publicly traded company to conduct a large-scale blockchain token presale.
But what really stands out is not the amount raised, but the list of investors: a16z (leading with $75 million), BlackRock, Apollo Global Management, Intercontinental Exchange (parent company of NYSE), ARK Invest, Standard Chartered, General Catalyst, Bullish, SBI Group, Janus Henderson, Marshall Wace, IDG Capital, Haun Ventures.