POPA ReconIt looks like Circle did the Asset Reserve Chain (ARC) project PreSale and sold it to BlockRock and Apollo for about $222M in 3B valuations.
It looks like Circle did the Asset Reserve Chain (ARC) project PreSale and sold it to BlockRock and Apollo for about $222M in 3B valuations. Circle Internet Group Inc CRCL's market cap is currently around 24B, and it seems to have crashed as soon as it was announced, so I think we can think of the following reasons Institutions did not invest directly in CRCL, but invested in ARC. CRCL itself is a bad news because future value does not belong to CRCL shareholders, but falls into a separate token ecosystem. Traditional stock investors considerably dislike token issuance or foundation str…
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