PANews reported on April 2, citing information from the S-1 document submitted by Circle, that Circle had paid Binance a one-time fee of $60 million, with the condition that Binance must hold a minimum of $1.5 billion USDC. Additionally, the document disclosed that Circle shares USDC revenue spreads with Coinbase, signed a priority MOU with BlackRock, acquired Hashnote for $99.8 million, reported a net loss of $761 million in 2022, and is accruing $14.2 million in expenses due to a legal dispute with FT Partners.

S-1 file shows that in November 2024, Circle reached an agreement with Binance, making Binance the first approved participant under the stablecoin ecosystem protocol. Circle paid Binance a one-time fee of $60.25 million and pays an annualized incentive fee of up to double-digit percentage based on its USDC balance on the platform and in the treasury. The prerequisite is that Binance's treasury holds no less than $1.5 billion USDC, and generally needs to maintain $3 billion. The cooperation period is two years, and if terminated early, there will be a one-year transition period to continue fulfilling part of the obligations.