Circle Banks $200M From Giants Like BlackRock In Arc Token Presale, CRCL Jumps 15%

Shares of stablecoin issuer Circle (CRLC) climbed on Monday, rising by 15% to $130 for the first time in nearly a month. The move came after the company disclosed it had raised $222 million in the presale of Arc, the native token tied to Circle’s new blockchain. The funding values Arc at a fully diluted network valuation of $3 billion

Circle CEO Maps The Road Ahead

Speaking to CNBC in an exclusive interview, Circle CEO Jeremy Allaire framed Arc as more than another crypto launch. He compared blockchain infrastructure to major technology platforms such as mobile operating systems and cloud services, arguing that it is becoming a foundational layer for how businesses operate. 

“We want to build an operating system that has many, many stakeholders in it,” Allaire said, describing a model that includes major companies helping to run and ultimately govern the infrastructure. 

He added that Circle is moving