Binance Invests $100 million In Circle

U.S. spot bitcoin exchange-traded funds recorded $998.95 million in net inflows on Monday, their largest daily inflow in 11 months, as bitcoin briefly surged above $87,000 amid renewed risk appetite. BlackRock's IBIT led the inflows with $381.4 million, followed by Ark & 21Shares' ARKB with $289.1 million and Fidelity's FBTC with $238.8 million, according to SoSoValue data. Read more →

Circle (CRCL) issued Binance 1.24 million Class A shares at a lightly discounted price of $80.84 in a private placement. The companies also signed a five-year deal that pays the Binance to promote the USDC stablecoin on its platform and for emerging markets. Circle has somewhat of a similar revenue-sharing agreement with Coinbase (COIN) where Coinbase earns 100% of the interest income from the USDC held on its exchange. CRCL shares are now up more than 205% since its IPO in June last year. Read more →

Anthony Pompliano’s bitcoin treasury company announced today a corporate name, ticker, and focus change. What was previously ProCap Financial (BRR) will now become Silvia (SVIA), named after the self-dealing acquisition performed earlier this year. In short, the company is selling off it’s BTC, buying back shares, and focusing on becoming “an agentic finance firm". The company has now sold more than 200 BTC. While it still holds an impressive 5,254 BTC, it’s not a great look selling just as BTC is starting to rise.

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