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Circle's $222M ARC presale values Arc at $3B, deepening Coinbase overlap
Circle said investors led by a16z Crypto backed a $222 million presale of ARC, valuing its planned Arc blockchain at $3 billion on a fully diluted basis. Circle reported $694 million in first-quarter revenue and reserve income, up 20% from a year earlier. The Arc push adds a network-level growth story beyond USDC issuance and increases Circle’s overlap with Coinbase’s Base and payments stack.