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Binance buys $100 million Circle stake in five-year USDC promotion deal

Circle sold 1.24 million shares at $80.84 each and will pay Binance a monthly fee tied to USDC held through its wallet infrastructure.Updated 42 minutes agoPublished 1 hour agoBinance founder Changpeng Zhao (Nikhilesh De/CoinDesk)Binance bought $100 million in Circle shares through a private placement that closed Sept. 17, acquiring 1.24 million shares at $80.84 each.Binance generally cannot sell, transfer or hedge the shares for up to two years, though it retains voting rights.Under an expanded...

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