The USDC issuer disclosed the raise on May 11 in its first-quarter 2026 results, saying the ARC token sale valued the Arc network at $3 billion on a fully diluted basis.
The investors included a16z crypto, Apollo Funds, ARK Invest, BlackRock, Bullish, General Catalyst, Haun Ventures, Intercontinental Exchange, Janus Henderson Investors, SBI Group and Standard Chartered Ventures.
Circle's total revenue and reserve income rose 20% to $694 million in the quarter, according to the results. Reserve income still made up most of that figure, reaching $653 million.
Other revenue was much smaller at $42 million, though it doubled from $21 million a year earlier. Together, reserve income and other revenue added up to $694 million for the quarter.
But net income from continuing operations fell 15% to $55 million. Circle said the drop came as higher revenue less distribution costs was offset by stock-based compensation and more spending on product, distribution and operating infrastructure.