Binance takes $100M stake in Circle under expanded USDC deal
Summary
Binance invested $100 million in Circle as part of a new five-year deal to promote USDC on the exchange. Circle issued Binance 1,237,011 Class A shares at $80.84 each in a private placement on Sept. 17, below the stock’s market price at the time. In return, Circle will pay Binance monthly incentive fees tied to USDC balances held through Circle’s wallet infrastructure, and Binance will add more USDC promotional activity on its platform. Binance agreed not to sell or pledge the shares for up to two years, though the lockup can end earlier under some termination conditions; voting rights remain with Binance. The agreement replaces earlier deals from 2024 and 2025 and can be ended early under specified terms.
