Binance Doubles Down on USDC with $100M Circle Investment

Binance has invested $100 million in Circle stock and entered into a new five-year agreement to expand USDC services. According to Jordan Kerridge, under this deal Binance will increase the promotion, integration, and availability of USDC to users worldwide. Additionally, Circle will pay Binance monthly incentives as part of the agreement.

This investment marks a shift in focus for Binance towards digital asset partnerships. As reported earlier by Kerridge, there have been significant market fluctuations, including Bitcoin dropping below $77,000 and resulting in $150 million in long positions being liquidated.