Circle raises $222M in Arc token presale at $3B FDV from a16z crypto, BlackRock and others; Q1 revenue up 20%

Circle raised $222 million in an Arc token presale at a $3 billion valuation and reported Q1 revenue of $694 million, with USDC reaching $77 billion. Investors include BlackRock, Apollo, and a16z. The funding round values Circle at $3 billion.