Binance buys $100M stake in Circle
The company issuing the USDC stablecoin has just sold more than 1.2 million shares to Binance at an average price of $80.84 ($100M).
This price is below the market price, and Binance will be restricted from selling or transferring the shares for up to 2 years.
Under the agreement, USDC will continue to be promoted by Binance across the exchange’s products. Circle will pay additional monthly fees based on the amount of USDC held through Binance’s infrastructure.$BNB
The company issuing the USDC stablecoin has just sold more than 1.2 million shares to Binance at an average price of $80.84 ($100M).
This price is below the market price, and Binance will be restricted from selling or transferring the shares for up to 2 years.
Under the agreement, USDC will continue to be promoted by Binance across the exchange’s products. Circle will pay additional monthly fees based on the amount of USDC held through Binance’s infrastructure.$BNB
