According to CNBC, Circle Internet Group completed a token presale for its Arc blockchain, raising $222 million with a fully diluted network valuation of $3 billion. Andreessen Horowitz led the round with a $75 million investment, joined by BlackRock, Apollo Funds, Intercontinental Exchange (ICE), Standard Chartered Ventures, ARK Invest, and Bullish, among other institutions. Circle will hold 25% of the initial 10 billion token supply, with 60% allocated to network builders and participants and 15% reserved for long-term use.
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