Binance Invests $100M in Circle, Signs Five-Year USDC Deal

Binance has made a significant investment in Circle Internet Group by purchasing $100 million worth of its stock. The purchase includes 1,237,011 Class A shares at $80.84 each, which represents a five percent discount to Circle's market price before closing.

The deal also involves a five-year agreement between the two companies to promote USDC, with Binance agreeing not to sell or transfer its shares for up to two years and keeping its voting rights intact.

Richard Teng, co-CEO of Binance, stated that Circle has 'earned its place as one of the most credible issuers in the world' and that the investment represents 'long-duration conviction.'