Binance takes $100M Circle stake but can’t shake Iran probes

Homepage > News > Business > Binance takes $100M Circle stake but can’t shake Iran probes TL;DR: Binance is investing $100 million in Circle and expanding their five-year USDC partnership, but renewed scrutiny over Binance’s alleged links to Iranian sanctions violations, its handling of customer data, and regulatory setbacks in Europe are clouding the contract. Key Takeaways: Binance takes $100M Circle stake, will promote USDC in emerging markets Yet another U.S. probe into Binance’s link to Iran sanctions evasion Binance may have violated EU rules by giving customer data to Russia Did European Central Bank’s Lagarde kill Binance’s MiCA license bid? The Binance digital asset exchange has expanded its stablecoin tie-up with USDC issuer Circle (NASDAQ: CRCL), but reports of new probes into Binance’s ties to Iranian sanctions violations spoiled this party. On Tuesday, Binance and Circle unveiled an expansion of their existing partnership to promote Circle’s USDC on Binance’s platform. The new five-year deal will see Binance take a $100 million stake in Circle, while expanding the exchange’s USDC promotions, “especially across emerging markets.” That last bit is a shot across ...