The B-Token version of Circle’s USDC was also impacted, with Binance having only $100 million in stored collateral to support $1.7 billion in Binance-peg USDC.

Notably, Binance has been a long-time competitor of Coinbase Global Inc., which has a close relationship with Circle. USDC was launched through a joint venture between Coinbase and Circle in 2018.

Circle seeks to leverage Binance’s large user base Circle’s CEO, Jeremy Allaire, lauded Binance’s approach to innovation and its focus on user experience. “I have long admired Binance for ...

The B-Token version of Circle’s USDC was also impacted, the person said, noting that on one occasion, Binance only had $100 million in stored collateral to support $1.7 billion in Binance-peg USDC.

Circle noted that while they were not able to assess how significant a role Binance’s auto conversion’s from USDC to BUSD played in USDC’s decline in circulation, they observed an ...

The upshot is that Circle appears to have made peace with its old rival in order to take advantage of Binance’s vast network and find new customers for USDC. Binance, meanwhile, will be able to ...

According to a Feb. 13 Bloomberg report, Circle alerted NYDFS in an autumn 2022 complaint that Binance’s reserves were insufficient to support its tokens, seemingly including stablecoin Binance ...

Circle files an amicus brief in the SEC-Binance case to argue about the status of stablecoins. SEC charged Binance earlier for conducting trades with unregistered securities and selling BUSD as an ...

Binance will also adopt the second-largest stablecoin for its own corporate treasury, according to the two companies.The partnership with Binance comes as Circle, which has $40 billion worth of ...

Reportedly, the stablecoin issuer Circle filed a complaint with the New York State Department of Financial Services sometime during the Autumn of 2022 alleging that Binance wasn’t properly ...

Crypto industry giants Circle Internet Group Inc. and Binance have joined forces in a new strategic partnership announced today at Abu Dhabi Finance Week that will expand adoption of USDC and ...