Breaking news, folks! Binance, the world’s largest cryptocurrency exchange, has just received a $2 billion investment from Abu Dhabi-based MGX. And get this – the entire investment was made using only stablecoins! 😲
That’s right, no fiat currency involved. Just good ol’ crypto. This marks the first institutional investment in Binance’s history, and it’s a big one. MGX, known for its focus on AI and advanced technology, now has a minority stake in Binance, signaling their entry into the cryptocurrency and blockchain sectors.
Ahmed Yahia, Managing Director and CEO of MGX, said, “MGX’s investment in Binance reflects our commitment to advancing blockchain’s transformative potential for digital finance.” 🤓
UAE compliance efforts
With this investment, Binance aims to expand its compliance efforts, enhance security measures, and strengthen partnerships with regulators worldwide. Because, you know, nothing says “compliance” like a massive investment in crypto. 🙄
Binance, which employs around 1,000 staff in the UAE, has established itself as a key player in the region’s crypto landscape. The exchange serves over 260 million registered users and has processed more than $100 trillion in cumulative trading volume. 🤑
MGX, an Abu Dhabi sovereign wealth fund, invests $2 billion in @Binance for a minority stake. The transaction will be 100% in crypto (stablecoins), marking it the largest investment transaction done in crypto to date.
This is also the first institutional investment @Binance has…
— CZ 🔶 BNB (@cz_binance) March 12, 2025
Binance CEO Richard Teng said, “Together, we are shaping the future of digital finance. Our focus remains on compliance, security, and user protection.” 🕵️♂️
Teng, who previously served as CEO of the Abu Dhabi Financial Services Regulatory Authority, played a pivotal role in developing one of the world’s earliest crypto regulatory frameworks. 🤯
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2025-03-12 21:29