Binance has acquired a $100 million (approximately 130 billion KRW) stake in Circle (CRCL), the issuer of USDC, through a private placement (PP) method, signing a 5-year partnership. According to a U.S. SEC filing, Circle issued 1.24 million shares of Class A common stock to Binance at $80.84 per share. Binance cannot sell these shares for a maximum of two years but will exercise voting rights and receive a monthly incentive fee from Circle proportionate to its USDC holdings in Binance wallets.
