Circle pays millions for Binance distribution while its margins collapse
Circle is investing heavily in its partnership with Binance following a significant increase in USD Coin (USDC) stablecoin customer balances on the exchange. On September 22, Circle and Binance announced a new five-year commercial agreement, with Binance making a $100 million equity investment in Circle. This move comes as Circle's margins are reportedly collapsing. For more details, see the original report on CryptoSlate.
Circle is investing heavily in its partnership with Binance following a significant increase in USD Coin (USDC) stablecoin customer balances on the exchange. On September 22, Circle and Binance announced a new five-year commercial agreement, with Binance making a $100 million equity investment in Circle. This move comes as Circle's margins are reportedly collapsing. For more details, see the original report on CryptoSlate.
Sources
- CryptoSlate — Circle pays millions for Binance distribution while its margins collapse
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