Circle sold Binance 1,237,011 Class A shares at $80.84 each, raising $100 million in a private placement that closed September 17. Under a separate five-year commercial deal, Circle will pay Binance a monthly fee calculated as a percentage of the USDC held through its modular smart contract wallet infrastructure, and Binance agreed to promote the stablecoin on its platform. Binance cannot sell or hedge the shares for two years but keeps its voting rights. Circle’s stock, trading around $94.49 on September 21, is down approximately 34% over 12 months, contrasting with a 16.5% gain for the S&P 500 over the same period.
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