Circle raises $222M ARC token presale for Arc L1 at $3B FDV, disclosed May 11, 2026

Circle Internet Group disclosed on May 11, 2026 that it raised $222 million by selling 740 million ARC tokens at $0.30 each, valuing the Arc network at a $3 billion fully diluted valuation. The round was led by Andreessen Horowitz with a $75 million commitment and included Blackrock, Apollo Funds, and Intercontinental Exchange. Circle says Arc is a stablecoin-native L1 that uses USDC for gas fees and is targeting a 2026 mainnet beta.