According to information from Nick Cannon citing Circle's S-1 filing, PANews reports on April 2nd that Circle previously paid a one-time fee of $60 million to Binance, with the condition that Binance must hold at least $1.5 billion in USDC. Additionally, the document disclosed that Circle shares USDC revenue spread with Coinbase, signed a priority MOU with BlackRock, acquired Hashnote for $99.8 million, incurred a net loss of $761 million in 2022, and has set aside $14.2 million in expenses due to legal disputes with FT Partners.

The S-1 filing shows that in November 2024, Circle reached an agreement with Binance, making Binance the first approved participant in the stablecoin ecosystem protocol. Circle paid Binance a one-time fee of $60.25 million and will pay an annual incentive fee in mid to high double-digit percentages based on USDC balances on its platform and in its treasury. The premise is that Binance's treasury holds no less than $1.5 billion in USDC, and typically needs to maintain $3 billion. The cooperation period is two years, with a one-year transition period for continuing partial obligations if terminated early.