Binance buys $100 million of Circle stock; Tazapay deal leaves share count unset
Binance bought 1,237,011 Circle Class A shares at $80.84 in a $100 million placement; Circle's roughly $400 million Tazapay deal has no final share count set.
Why it matters
The two structures work differently for Circle's share count: the Binance terms are fixed at 1,237,011 shares and $80.84 per share, while the Tazapay issuance still moves with an estimated price, so Circle's equity count is not settled for the second deal. Cointelegraph placed both items inside a wider argument that stablecoins and tokenized assets put crypto firms and traditional finance on overlapping ground, also citing Canada's six largest banks exploring tokenized deposits and the New York Stock Exchange working with Blockchain.com on onchain US stocks and ETFs. Beyond the share-count mechanics, neither outlet reported a market-wide effect, and the price picture the two outlets give is not consistent.
Where the sources disagree
Direction of CRCL share price around the Binance announcement
CRCL shares rose following the announcement
Cointelegraph
Closed Wednesday at $91.72, down 3.03%, near $91 in Thursday premarket
The Crypto Basic
Cointelegraph said CRCL shares rose after the Binance placement was announced, while The Crypto Basic recorded a 3.03% decline at the Wednesday close of $91.72 and a premarket price near $91, with the two outlets measuring different windows.
Key facts
Circle issued Binance 1,237,011 Class A common shares at $80.84 per share in a Sept. 17 private placement worth $100 million.
100,000,000 USDReported by The Crypto Basic
The Binance investment came with a five-year agreement to expand USDC adoption across the exchange.
Reported by Cointelegraph
CRCL closed Wednesday at $91.72, down 3.03%, and traded near $91 in Thursday premarket trading.
3.03 %Disputed figureReported by The Crypto Basic
Circle agreed to acquire Tazapay for approximately $400 million, with the final share count still unset and the initial closing issuance based on an Estimated Purchase Price.
400,000,000 USDReported by The Crypto Basic
Circle Internet Group Tokenized bStocks, a tokenized instrument giving economic exposure to Circle shares, traded at $90.95, down 1.79% over the previous 24 hours in the Sept. 24 CoinMarketCap snapshot.
1.79 %Reported by The Crypto Basic
About 1.25 million CRCLB tokens were in circulation, a market capitalization of roughly $114.1 million that The Crypto Basic said covers the tokenized instrument and not Circle's corporate equity market cap.
114,100,000 USDReported by The Crypto Basic
The Crypto Basic reported finding no reliable evidence that links CRCL's decline to Circle's pending Tazapay acquisition.
Reported by The Crypto Basic
What happened
Cointelegraph reported, citing a Tuesday filing with the US Securities and Exchange Commission, that Circle issued Binance 1,237,011 Class A common shares at $80.84 apiece in a Sept. 17 private placement worth $100 million, alongside a five-year agreement to expand USDC adoption across the exchange. The Crypto Basic ran the same share-issuance mechanics against market data, reporting that CRCL closed Wednesday at $91.72, down 3.03%, and traded near $91 in Thursday premarket trading. Cointelegraph said the $80.84 purchase price sat below Circle's market price before the deal closed and that CRCL shares rose after the announcement, which is the opposite direction from the decline The Crypto Basic recorded for the Wednesday session. Circle is also buying Tazapay for approximately $400 million, and The Crypto Basic reported that the final share count in that transaction is not set, with the initial closing issuance to be based on an Estimated Purchase Price under the purchase agreement. The Crypto Basic also found no reliable evidence linking CRCL's decline to the Tazapay acquisition, and its own price data came from a Sept. 24 CoinMarketCap snapshot of the CRCLB tokenized instrument rather than from the corporate equity.
How the story developed
- Official statement
Circle files with the SEC disclosing the Binance share issuance
The filing covers 1,237,011 Class A common shares sold to Binance at $80.84 apiece in a Sept. 17 private placement.
- Update
CRCL closes at $91.72, down 3.03%
The Crypto Basic tied the session to the share-issuance mechanics of the Binance investment and the Tazapay agreement.
- First report
First report by The Crypto Basic
Circle Stock Near $91; Binance and Tazapay Deals Highlight Share-Issuance Mechanics
- Update
The Crypto Basic publishes the share-count and CRCLB analysis
Reports no reliable link between the price decline and the Tazapay deal, and gives the Sept. 24 CoinMarketCap snapshot of CRCLB.
- Update
Tazapay acquisition share count remains undetermined
The initial closing share issuance will be calculated from an Estimated Purchase Price under the purchase agreement.
- Independent corroboration
Independently corroborated by Cointelegraph
Crypto Biz: Wall Street and crypto fight for the same turf
- Update
Cointelegraph reports Binance's $100 million stake in Circle and the five-year USDC agreement
The newsletter item also states the purchase price was below Circle's market price before closing and that CRCL shares rose on the announcement.
- Update
Cointelegraph Crypto Biz newsletter frames the deals as part of a wider turf overlap
Same issue cites Canada's six largest banks exploring tokenized deposits and the New York Stock Exchange working with Blockchain.com on onchain US stocks and ETFs.
How coverage built up
Independent sources over time, counted the way the consensus panel counts them: a republication of a wire story does not move the line.
- 24 Sept 2026, 14:05 UTC: The Crypto Basic — 1 independent source, 1 reports
- 25 Sept 2026, 15:49 UTC: Cointelegraph — 2 independent sources, 2 reports
Affected entities
Also mentioned: U.S. Securities and Exchange Commission, Tether USDt, Base, European Union, Hong Kong
Original sources
| Publisher | Report | Role | Published |
|---|---|---|---|
| The Crypto Basic Crypto media | Circle Stock Near $91; Binance and Tazapay Deals Highlight Share-Issuance Mechanics | Original | |
| Cointelegraph Crypto media | Crypto Biz: Wall Street and crypto fight for the same turf | Independent |
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