Binance Buys Circle Stake for $100 Million, Renews USDC Deal

Binance has made a significant investment in Circle, purchasing $100 million worth of shares at a five percent discount to the September 17th close. The deal sees Binance acquire 1,237,011 shares of Circle stock for $80.84 each.

The acquisition is tied to an existing agreement between the two companies, which requires Circle to pay Binance a monthly fee based on USDC balances. This fee remains unchanged under the new terms of the agreement.