USDC balances on Binance have nearly quintupled since Circle’s first deal with the exchange. Circle is paying heavily for that reach.

It paid Binance $60.25 million upfront under the original agreement, while distribution costs now equal about 61% of reserve income. The new five-year deal keeps the relationship going, but the latest incentive rate is undisclosed.

https://cryptoslate.com/circle-pays-millions-for-binance-distribution-while-its-margins-collapse/

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