Binance Invests $100M in Circle

Circle announced that Binance has acquired a $100 million stake in the stablecoin issuance company, to strengthen their five-year partnership. The deal involved issuing and selling approximately 1.24 million Circle shares to Binance at a price of $80.84 per share. USD Coin (USDC) is a stablecoin pegged to the dollar, with a market value of around $75 billion. Circle's shares rose about 2% before the market opening, and their relationship has expanded to boost USDC trading on the Binance platform.

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