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Major crypto stock surges after BlackRock investment
Key takeaways
- The investment involves a presale raise of $222 million for Arc, Circle's new institutional Layer 1 blockchain, at a fully diluted network valuation of $3 billion.
- Related: Circle stock surges on two key announcements
- The testnet was launched in October 2025, and the mainnet, upon launch, will have quantum-resistant features, Arc said in April 2026.
Major crypto stock surges after Black Rock investment Anand Sinha Tue, May 12, 2026 at 12:40 AM GMT+7 1 min read CRCL USDC-USD BLSH ETH-USD SOL-USD On May 11, Circle Internet Group (NYSE: CRCL), the crypto company popular for its USDC stablecoin offering, announced a raise of $222 million from leading investors like Black Rock (NYSE: BLK), Bullish (NYSE: BLSH), Cathie Wood's ARK Invest, a16z Crypto, Intercontinental Exchange (NYSE: ICE), etc.
The investment involves a presale raise of $222 million for Arc, Circle's new institutional Layer 1 blockchain, at a fully diluted network valuation of $3 billion.
Related: Circle stock surges on two key announcements
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