Circle sells Arc tokens in $222M presale, valuing the network at $3B

Circle Internet Group raised $222 million by preselling Arc, the native token for its new Arc blockchain, giving the network a $3 billion fully diluted valuation. Andreessen Horowitz led the round with a $75 million check, with participants including BlackRock, Apollo Funds and Intercontinental Exchange. Circle CEO Jeremy Allaire said the company is expanding beyond USDC issuance toward blockchain infrastructure and applications, including tools for AI agents to transact with USDC.