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A major cryptocurrency exchange is buying a significant piece of a stablecoin issuer while under legal scrutiny.
In plain terms, a stake means an ownership interest in a company that grants voting rights and a share of profits.
Binance, described as the world's busiest crypto exchange, is paying $100 million for a slice of Circle, the company behind the USDC stablecoin.
The Deal And The Probe The transaction involves two distinct entities in the digital asset space. Circle operates USDC, a type of cryptocurrency designed to maintain a stable value by pegging it to the U.S.
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