Circle raised $222 million in its pre-sale of native tokens on its new public blockchain Arc, valuing the company at approximately $3 billion.

CoinFeed reported on May 11th that, according to CNBC, Circle, the issuer of USDC, raised $222 million in the pre-sale of its new public chain Arc's native token, valuing the network at approximately $3 billion in a fully diluted manner. The round was led by a16z crypto, with participation from about ten institutions including BlackRock, Apollo Funds, ICE (the parent company of the NYSE), SBI Group, Janus Henderson, Standard Chartered Ventures, and ARK Invest.