BlackRock Bets on Circle’s Arc: $222M Raised in Major Token Presale

The company behind the second-largest stablecoin by market cap has successfully raised $222 million in the presale of a token tied to its new blockchain called Arc. The fully diluted valuation has risen to $3 billion, while company CEO Jeremy Allaire hinted that the firm will also enter into the “apps business.” The Q1 results press release from Circle informed that the USDC in circulation grew 28% during…