Circle sells $222M of Arc tokens at $3B FDV; Q1 2026 revenue hits $694M
Circle Internet Group said it raised $222 million in a presale of Arc tokens valuing the project at a $3 billion fully diluted valuation, with a16z crypto, BlackRock, Apollo and others participating. Released alongside Circle's Q1 2026 results, the company reported $694 million in total revenue and reserve income, while USDC supply rose 28% to $77 billion. Onchain USDC transaction volume totaled $21.5 trillion and adjusted EBITDA was $151 million, even as net income fell to $55 million amid higher operating expenses.
