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. 🤯
Read More
- Alec Baldwin’s TLC Reality Show Got A Release Date And There’s At Least One Reason I’ll Definitely Be Checking This One Out
- Rick Owens Gives RIMOWA’s Cabin Roller a Bronze Patina
- Cookie Run Kingdom Town Square Vault password
- After The Odyssey’s First Look At Matt Damon’s Odysseus, Fans Think They’ve Figured Out Who Tom Holland Is Playing
- NEIGHBORHOOD Unveils SS25 Collection Featuring Keffiyeh-Inspired Pieces
- Disney+ Lost A Ton Of Subscribers After The Company Raised Prices, But It Didn’t Seem To Matter For Another Streamer
- ‘The Last of Us’ Gets Season 2 Premiere Date
- BitGo’s New OTC Desk: Where Crypto Meets Wall Street’s Wild Side!
- Unveiling the Enchanting World of Peer-to-Peer Crypto: A Witty Guide
- Andrew Garfield’s Spider-Man in Secret Wars Fan Art Will Blow Your Mind
2025-03-12 21:29