Circle Shares Fall 5.1% as It Freezes Over $800 Million Tied to Binance Theft

Circle shares fell 5.1% in premarket trading Friday. The company froze more than $800 million in assets tied to a $6.3 billion Binance theft case. Circle is the issuer of USD Coin (USDC), a stablecoin. The amount tied to the company’s freeze is more than $800 million; the $6.3 billion figure refers to the broader theft case. The freeze amount is therefore only part of the total value associated with the incident. The market decline describes Circle shares before regular trading, while the freeze figure describes assets Circle froze.

Source: TokenPost