Binance, the top cryptocurrency exchange globally, has received a huge $2 billion investment from MGX, based in Abu Dhabi. This deal is noteworthy for two reasons: it’s the biggest single investment in a crypto company to date, and it’s the first time such a large amount has been paid in stablecoin. This follows President Trump’s initiatives to boost the crypto sector, which resulted in the dismissal of several lawsuits involving crypto companies.
MGX Gains Stake in Binance
On Wednesday, Binance revealed that MGX, an investor in AI and advanced technology based in Abu Dhabi, has committed $2 billion to the platform. This investment is the largest in a crypto company to date and represents the first institutional investment in Binance, the world’s leading crypto exchange.
MGX has acquired a minority share in Binance as part of its wider plan to dive into and improve how blockchain technology can change societal roles. By teaming up with Binance, MGX plans to use its tech expertise to lead the charge in new developments that combine AI, blockchain, and finance.
Binance CEO, Richard Teng, said, “This investment by MGX is a significant milestone for the crypto industry and for Binance. Together, we are shaping the future of digital finance. Our goal is to build a more inclusive and sustainable ecosystem, with a strong focus on compliance, security, and user protection.”
Binance has approximately 1,000 of its global workforces of 5,000 based in the UAE. With over 260 million registered users and having processed upwards of $100 trillion in total trading volume, Binance surpasses the size of several of its closest competitors combined.
Richard further added, “Binance remains committed to working with regulators worldwide to establish transparent, responsible, and forward-thinking policies for the crypto industry. Our ongoing investments in security and compliance reinforce our mission to foster a secure and trusted digital financial ecosystem.”
