Binance deal gives Circle a boost in stablecoin race with Tether, analysts say

Binance has taken a US$100 million stake in Circle, and monthly USDC trading on the exchange has roughly doubled since the pair partnered in December 2024. CoinDesk asked three analysts whether that dents Tether’s lead. Gravity Team Co-Founder and CEO Mārtiņš Beņķītis saw more pressure on USDT, while pointing to Tether’s years of deep trading pairs, local liquidity and user habit. “But distribution alone won’t change that overnight,” he said.