Circle raises $222 million for Arc blockchain token sale at $3 billion valuation

Circle raised $222 million for its Arc blockchain token at a $3 billion valuation, drawing backing from BlackRock, Apollo and Bullish. What to know : Circle sold $222 million worth of ARC tokens in a presale valuing the network at $3 billion. Investors included BlackRock, Apollo, a16z crypto, Bullish, ICE and Standard Chartered Ventures. ARC is designed to support governance, validator security and operations on Circle’s new Arc blockchain.