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Project Overview
ARC provides tools and know-how to facilitate the development and management of decentralized projects, ecosystems, and businesses. The cornerstone of these decentralized financial instruments is Reactor, a user-friendly graphical user interface (GUI) for Web3, smart contracts, and protocol contract development.
Bernstein: CLARITY Act Yield Compromise to Strengthen Circle's Competitive Edge
Odaily. Bernstein stated in its latest research report that the newly reached compromise on stablecoin yields under the U.S. CLARITY Act is structurally beneficial for Circle and the USDC ecosystem.The report notes that the current version of the bill prohibits stablecoin issuers from paying interest to passive holders that is "economically equivalent" to bank deposits, but allows reward mechanisms tied to actual transaction, payment, and usage activities to continue. Bernstein believes this means Circle's current model, which relies on partners like Coinbase to provide USDC reward programs, will gain regulatory recognition, while also limiting the industry's ability to compete for market share through high yields.Bernstein points out that the bill effectively reinforces the positioning of stablecoins as "payment tools" rather than "deposit substitutes," helping to protect Circle's current business model that relies on reserve income. The firm maintains an "Outperform" rating for Circle with a $190 target price.Data shows that the total global supply of dollar-pegged stablecoins has surpassed $300 billion, with USDT and USDC collectively accounting for approximately 97% of the market share. Bernstein notes that USDC's share in on-chain payments and wallet transfers is steadily increasing, and its share of payments in the AI Agent payment protocol x402 has exceeded 99%.Additionally, Bernstein mentioned that Circle's ARC chain has cumulatively completed 244 million testnet transactions. The ARC token pre-sale previously raised $222 million, with investors including a16z crypto, Apollo Funds, ARK Invest, and BlackRock.However, the report also points out that the CLARITY Act still needs to complete multiple legislative procedures before it takes effect, including a 60-vote threshold in the full Senate and coordination with the House version. Polymarket currently estimates its probability of passage by 2026 at approximately 62%. (The Block)
Bernstein maintains its “Outperform” rating on Circle with a target price of $190.
According to The Block, research and brokerage firm Bernstein has maintained its “Outperform” rating on Circle Internet Group (CRCL), with a target price of $190—representing approximately 44% upside from Monday’s closing price of $131.76. Analysts led by Gautam Chhugani noted that Circle’s $222 million ARC token presale—completed at a fully diluted valuation of $3 billion—provides the company with near-term cushioning against a 11% sequential decline in reserve income driven by weakening interest rates.
Circle Completes $222 Million ARC Token Presale, Valued at $3 Billion
According to @cryptounfolded, Circle has completed the Arc token presale, raising $222 million with a fully diluted valuation of $3 billion. The round was led by a16z, with participation from major institutions including BlackRock and Apollo. Arc is positioned as a public blockchain for institutional contracts, governance, and AI agents, using USDC as its underlying settlement currency. Circle will receive 25% of the tokens for validator rewards.
Circle Q1 Revenue Reaches $694 Million, USDC On-Chain Transaction Volume Up 263% Year-over-Year
Circle has released its financial results for the first quarter of fiscal year 2026. The data shows that as of the end of the first quarter, the circulating supply of USDC reached $77 billion, a year-over-year increase of 28%; on-chain transaction volume for USDC in the first quarter reached $21.5 trillion, up 263% year-over-year.The financial report indicates that Circle's total revenue and reserve income for the first quarter was $694 million, a 20% increase year-over-year; adjusted EBITDA was $151 million, up 24% year-over-year; net profit was $55 million, a 15% decrease year-over-year.Additionally, Circle disclosed that its ARC Token pre-sale raised $222 million, with a fully diluted valuation of $3 billion. Participants included institutions such as a16z crypto, BlackRock, and ARK Invest. The company also announced the launch of the "Agent Stack" infrastructure for AI agent scenarios, including products like Agent Wallets and Agent Marketplace, designed to support AI agent payments and commercial activities based on USDC.
Bernstein: CLARITY Fails, Crypto Stock Pullback Is a Buying Opportunity
According to Crypto Pulse Research, Bernstein's September 16, 2026, research report states that the procedural vote on the CLARITY Act has failed, and there should be no hope for a revote. Stablecoins, governed by the GENIUS Act, remain unaffected, while Circle’s ARC chain launched that same day. Robinhood's daily on-chain gross revenue is approximately $1 million. The bank recommends buying the recent weakness in crypto equities, favoring Robinhood (HOOD), Circle (CRCL), and Figure (FIGR), with target prices set at $160, $140, and $70, respectively. It sets a $330 price target for Coinbase, $350 for Strategy, and $24 for Sharplink. Bernstein believes that following legislative failure, regulatory clarity will pivot toward rulemaking by the CFTC and SEC. This rulemaking process will be aggressive and rapid, making product rollout schedules more predictable. Advancement of stablecoins, tokenization, perpetual futures, and prediction market-related products will continue, with crypto stock pullbacks offering buying opportunities.
OpenAI appoints AI safety researcher Paul Christiano to the board of directors.
According to TechCrunch, AI alignment researcher Paul Christiano has officially joined the board of directors of the OpenAI Foundation and will serve as a member of its Safety and Security Committee. Christiano stated that he believes the rapid acceleration of AI capabilities poses a significant risk of "catastrophic and irreversible loss of control," and that the AI industry, including OpenAI, is not currently on track to effectively mitigate this risk. His appointment comes against the backdrop of several recent security incidents at OpenAI involving AI agents breaching constraints and infiltrating external computer systems, prompting widespread scrutiny of its safety protocols. Christiano is one of the core developers of the reinforcement learning (RLHF) technology. After leaving OpenAI in 2021 to found the Alignment Research Center (ARC), he will also continue to serve as an AI safety advisor to the U.S. government, though he will recuse himself from OpenAI-related matters and model evaluation work.
Bernstein: CLARITY Act Yield Compromise to Strengthen Circle's Competitive Edge
Odaily. Bernstein stated in its latest research report that the newly reached compromise on stablecoin yields under the U.S. CLARITY Act is structurally beneficial for Circle and the USDC ecosystem.The report notes that the current version of the bill prohibits stablecoin issuers from paying interest to passive holders that is "economically equivalent" to bank deposits, but allows reward mechanisms tied to actual transaction, payment, and usage activities to continue. Bernstein believes this means Circle's current model, which relies on partners like Coinbase to provide USDC reward programs, will gain regulatory recognition, while also limiting the industry's ability to compete for market share through high yields.Bernstein points out that the bill effectively reinforces the positioning of stablecoins as "payment tools" rather than "deposit substitutes," helping to protect Circle's current business model that relies on reserve income. The firm maintains an "Outperform" rating for Circle with a $190 target price.Data shows that the total global supply of dollar-pegged stablecoins has surpassed $300 billion, with USDT and USDC collectively accounting for approximately 97% of the market share. Bernstein notes that USDC's share in on-chain payments and wallet transfers is steadily increasing, and its share of payments in the AI Agent payment protocol x402 has exceeded 99%.Additionally, Bernstein mentioned that Circle's ARC chain has cumulatively completed 244 million testnet transactions. The ARC token pre-sale previously raised $222 million, with investors including a16z crypto, Apollo Funds, ARK Invest, and BlackRock.However, the report also points out that the CLARITY Act still needs to complete multiple legislative procedures before it takes effect, including a 60-vote threshold in the full Senate and coordination with the House version. Polymarket currently estimates its probability of passage by 2026 at approximately 62%. (The Block)
Bitget now supports USDC-ARC network services, and has opened deposit and withdrawal services.
According to the official announcement, Bitget has now completed the integration of USD Coin (USDC) on the Arc network and simultaneously enabled deposit and withdrawal services.
Bernstein maintains its “Outperform” rating on Circle with a target price of $190.
According to The Block, research and brokerage firm Bernstein has maintained its “Outperform” rating on Circle Internet Group (CRCL), with a target price of $190—representing approximately 44% upside from Monday’s closing price of $131.76. Analysts led by Gautam Chhugani noted that Circle’s $222 million ARC token presale—completed at a fully diluted valuation of $3 billion—provides the company with near-term cushioning against a 11% sequential decline in reserve income driven by weakening interest rates.
Circle CEO: ARK tokens belonging to the company will be recorded as "other income" at zero cost
Circle co-founder and CEO Jeremy Allaire responded to questions from various analysts during tonight's earnings call.When asked how ARK tokens belonging to Circle would be accounted for, Jeremy Allaire said: "When ARK tokens are created, they will be recorded on Circle's balance sheet at cost, and that cost is zero. Then, after Circle fulfills its obligations under the token presale agreement, we will recognize the value of these tokens as 'other income,' which will then be directly reflected in RLDC (Revenue Less Distribution Cost) and adjusted EBITDA."
Bubblemaps: Circle Has Distributed 10 Billion ARC Tokens to 11 Addresses
Odaily News: According to Bubblemaps monitoring, Circle has completed the minting of 10 billion ARC tokens and distributed them to 11 addresses via empty addresses, which can now be tracked on-chain in real time.The Arc team previously announced that the ARC token minting has been completed, with a total supply of 10 billion tokens. The team emphasized that ARC tokens have not yet been launched into circulation, are not tradable, are not available for public use, or activated for staking, governance, fees, or utility functions. According to the previous whitepaper, the ARC token distribution plan is as follows: 60% allocated to the ecosystem (token sales, developer grants, network growth); 25% allocated to Circle (protocol development, staking, and governance); 15% allocated to long-term reserves (strategic flexibility and economic stability).
Bitget now supports USDC-ARC network services, and has opened deposit and withdrawal services.
According to the official announcement, Bitget has now completed the integration of USD Coin (USDC) on the Arc network and simultaneously enabled deposit and withdrawal services.
Bernstein: CLARITY Fails, Crypto Stock Pullback Is a Buying Opportunity
According to Crypto Pulse Research, Bernstein's September 16, 2026, research report states that the procedural vote on the CLARITY Act has failed, and there should be no hope for a revote. Stablecoins, governed by the GENIUS Act, remain unaffected, while Circle’s ARC chain launched that same day. Robinhood's daily on-chain gross revenue is approximately $1 million. The bank recommends buying the recent weakness in crypto equities, favoring Robinhood (HOOD), Circle (CRCL), and Figure (FIGR), with target prices set at $160, $140, and $70, respectively. It sets a $330 price target for Coinbase, $350 for Strategy, and $24 for Sharplink. Bernstein believes that following legislative failure, regulatory clarity will pivot toward rulemaking by the CFTC and SEC. This rulemaking process will be aggressive and rapid, making product rollout schedules more predictable. Advancement of stablecoins, tokenization, perpetual futures, and prediction market-related products will continue, with crypto stock pullbacks offering buying opportunities.
Ignas: Arc leans more toward payments and forex use cases, with the only potential draw being a possible ARC airdrop
Odaily reports: Crypto researcher Ignas posted on X platform, stating that he currently has "no FOMO" about trading on Arc, believing that Arc focuses more on forex, payments, and tokenization scenarios, and that the team's support for Crypto Native culture is relatively limited.Ignas stated that one of Arc's potential attractions may come from an ARC token airdrop. He noted that Arc has plans for 60% of its tokens to be allocated to the "ecosystem," but expects that the relevant tokens will be used more to incentivize ecosystem partners in payments, forex, and tokenization rather than Degen traders. Additionally, he believes that from Robinhood and Solana to Arc, the "Meme coin + stocks" playbook is being repeated, and unless Arc introduces a new narrative, he will look at other trading opportunities.
Completed the 10 billion ARC genesis mint, Circle has not yet committed to a public offering
Odaily reports: Circle launched the Arc public chain's public mainnet on September 16, 2026. The first batch of 11 founding validators includes BlackRock, Visa, Mastercard, and the Depository Trust & Clearing Corporation. Arc uses USDC as its native gas token and supports sub-second finality and optional privacy features, targeting stablecoin payments, real-world assets, and tokenized markets; BlackRock plans to deploy the BUIDL fund to Arc to support on-chain subscriptions and redemptions. Circle stated that the entire initial supply was minted in the United States this week, but this is only a technical milestone and does not represent a commitment to a public offering; the company is exploring a transition of its consensus mechanism from Proof of Authority to Proof of Stake in 2027.
OpenAI Releases GPT-6 Astra Model, Claims It May Be Close to Achieving AGI
: OpenAI began rolling out its new flagship model, GPT-6 Astra, on Thursday, stating that it has made significant progress in commercial tasks such as financial modeling and engineering design. The model is initially available only to select institutions, including organizations participating in OpenAI's Daybreak Access cybersecurity program, and will later be rolled out to ChatGPT Plus, Pro, Business, and Enterprise users, as well as users via the API and Amazon Web Services. OpenAI stated that GPT-6 Astra has achieved notable improvements in computer operations, software programming, and professional work, and has reached top-tier performance on the FrontierMath Tier 1 mathematics benchmark, the ARC-AGI 3 reasoning test, and the ExploitBench cybersecurity test. Greg Brockman, co-founder and president of OpenAI, said that the timeline for achieving artificial general intelligence (AGI) has always been somewhat ambiguous, but "looking back a few years from now," this milestone "may fall precisely within this period, right around this model." GPT-6 Astra is priced at $10 per million input tokens and $50 per million output tokens, which is 2.5 times the price of the previous flagship model, GPT-5.6 Sol. OpenAI stated that the AI industry may shift toward charging per task rather than per token in the future. Brockman said at the launch event: "Welcome to the age of AGI." (Jin Shi)
Related news
Bubblemaps: Circle Has Distributed 10 Billion ARC Tokens to 11 Addresses
Odaily News: According to Bubblemaps monitoring, Circle has completed the minting of 10 billion ARC tokens and distributed them to 11 addresses via empty addresses, which can now be tracked on-chain in real time.The Arc team previously announced that the ARC token minting has been completed, with a total supply of 10 billion tokens. The team emphasized that ARC tokens have not yet been launched into circulation, are not tradable, are not available for public use, or activated for staking, governance, fees, or utility functions. According to the previous whitepaper, the ARC token distribution plan is as follows: 60% allocated to the ecosystem (token sales, developer grants, network growth); 25% allocated to Circle (protocol development, staking, and governance); 15% allocated to long-term reserves (strategic flexibility and economic stability).
Bitget now supports USDC-ARC network services, and has opened deposit and withdrawal services.
According to the official announcement, Bitget has now completed the integration of USD Coin (USDC) on the Arc network and simultaneously enabled deposit and withdrawal services.
Bernstein: CLARITY Fails, Crypto Stock Pullback Is a Buying Opportunity
According to Crypto Pulse Research, Bernstein's September 16, 2026, research report states that the procedural vote on the CLARITY Act has failed, and there should be no hope for a revote. Stablecoins, governed by the GENIUS Act, remain unaffected, while Circle’s ARC chain launched that same day. Robinhood's daily on-chain gross revenue is approximately $1 million. The bank recommends buying the recent weakness in crypto equities, favoring Robinhood (HOOD), Circle (CRCL), and Figure (FIGR), with target prices set at $160, $140, and $70, respectively. It sets a $330 price target for Coinbase, $350 for Strategy, and $24 for Sharplink. Bernstein believes that following legislative failure, regulatory clarity will pivot toward rulemaking by the CFTC and SEC. This rulemaking process will be aggressive and rapid, making product rollout schedules more predictable. Advancement of stablecoins, tokenization, perpetual futures, and prediction market-related products will continue, with crypto stock pullbacks offering buying opportunities.
Ignas: Arc leans more toward payments and forex use cases, with the only potential draw being a possible ARC airdrop
Odaily reports: Crypto researcher Ignas posted on X platform, stating that he currently has "no FOMO" about trading on Arc, believing that Arc focuses more on forex, payments, and tokenization scenarios, and that the team's support for Crypto Native culture is relatively limited.Ignas stated that one of Arc's potential attractions may come from an ARC token airdrop. He noted that Arc has plans for 60% of its tokens to be allocated to the "ecosystem," but expects that the relevant tokens will be used more to incentivize ecosystem partners in payments, forex, and tokenization rather than Degen traders. Additionally, he believes that from Robinhood and Solana to Arc, the "Meme coin + stocks" playbook is being repeated, and unless Arc introduces a new narrative, he will look at other trading opportunities.
Completed the 10 billion ARC genesis mint, Circle has not yet committed to a public offering
Odaily reports: Circle launched the Arc public chain's public mainnet on September 16, 2026. The first batch of 11 founding validators includes BlackRock, Visa, Mastercard, and the Depository Trust & Clearing Corporation. Arc uses USDC as its native gas token and supports sub-second finality and optional privacy features, targeting stablecoin payments, real-world assets, and tokenized markets; BlackRock plans to deploy the BUIDL fund to Arc to support on-chain subscriptions and redemptions. Circle stated that the entire initial supply was minted in the United States this week, but this is only a technical milestone and does not represent a commitment to a public offering; the company is exploring a transition of its consensus mechanism from Proof of Authority to Proof of Stake in 2027.
OpenAI appoints AI safety researcher Paul Christiano to the board of directors.
According to TechCrunch, AI alignment researcher Paul Christiano has officially joined the board of directors of the OpenAI Foundation and will serve as a member of its Safety and Security Committee. Christiano stated that he believes the rapid acceleration of AI capabilities poses a significant risk of "catastrophic and irreversible loss of control," and that the AI industry, including OpenAI, is not currently on track to effectively mitigate this risk. His appointment comes against the backdrop of several recent security incidents at OpenAI involving AI agents breaching constraints and infiltrating external computer systems, prompting widespread scrutiny of its safety protocols. Christiano is one of the core developers of the reinforcement learning (RLHF) technology. After leaving OpenAI in 2021 to found the Alignment Research Center (ARC), he will also continue to serve as an AI safety advisor to the U.S. government, though he will recuse himself from OpenAI-related matters and model evaluation work.