{"id":101616,"date":"2025-03-13T00:00:00","date_gmt":"2025-03-13T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/mgx-invests-landmark-usd-2-bn-in-binance\/"},"modified":"2025-03-13T00:00:00","modified_gmt":"2025-03-13T00:00:00","slug":"mgx-invests-landmark-usd-2-bn-in-binance","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2025\/03\/13\/mgx-invests-landmark-usd-2-bn-in-binance\/","title":{"rendered":"MGX invests landmark USD 2 bn in Binance"},"content":{"rendered":"

Abu Dhabi\u2019s<\/strong> AI fund <\/strong>MGX<\/a><\/strong> has invested USD 2 bn via stablecoin in <\/strong>Binance<\/a><\/strong>, the world\u2019s largest cryptocurrency exchange, the platform said in a press release<\/a>. The investment marks the single largest investment into a cryptocurrency company and is the first institutional investment in Binance. It is also the largest investment ever paid in stablecoin.<\/p>\n

The details: <\/strong>The investment will see MGX secure a minority stake in Binance, the statement said. Binance currently employs one-fifth of its 5k strong workforce in the UAE, with its 260 mn users generating USD 100 tn in cumulative trading volume.<\/p>\n

This marks MGX\u2019s first investment in crypto<\/strong>, with the fund having focused its investments on AI thus far. Besides pledging initial investments<\/a> in the USD 30-50 bn planned data centers in France and buying into Khazna Data Centers<\/a>, it has also invested in Elon Musk\u2019x AI firm xAI<\/a>, as well as in ChatGPT maker OpenAI<\/a>, and has backed<\/a> a major AI infrastructure fund launched by BlackRock and Global Infrastructure Partner. <\/p>\n

What they said: <\/strong>This reflects MGX\u2019s \"commitment to advancing blockchain\u2019s transformative potential for digital finance, according to MGX CEO Ahmed Yahia, whilst Binance CEO Richard Teng called the investment \u201ca significant milestone for the crypto industry and for Binance.\u201d Teng previously served as CEO of the Abu Dhabi Financial Services Authority.<\/p>\n

REMEMBER-<\/strong> Last summer<\/a><\/strong> Binance was considering setting up its headquarters in the Emirates<\/strong> \u2014 in Dubai, Abu Dhabi, or a third undisclosed city \u2014 Teng told Bloomberg. It had secured approval from Dubai\u2019s Virtual Assets Regulatory Authority (Vara) earlier in April<\/a> to operate as a Virtual Asset Service Provider (Vasp).<\/p>\n

Welcome news: <\/strong>The investment is a vote of confidence for an industry that recently had some bad press following cryptocurrency\u2019s biggest hack last month<\/a> when Dubai-based cryptocurrency exchange Bybit lost over USD 1.5 bn following a cyberattack.<\/p>\n","protected":false},"excerpt":{"rendered":"

It marks the largest ever investment into a crypto company<\/p>\n","protected":false},"author":1,"featured_media":101617,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1557],"tags":[107,7,1342,25,1042],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-101616","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-crypto","tag-enterpriseam-uae","tag-investment","tag-investment-watch","tag-mgx","wpautop","entry"],"acf":{"mongo_id":"7bab49e8-2f1e-44b5-b3d4-2b66b9a09336","order":"3","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/3\/1017.jpg","photo_position":"above","homepage_title":"","full_issue_title":"MGX invests landmark USD 2 bn in Binance","related_issue":[101611],"teaser":"It marks the largest ever investment into a crypto company","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/3\/.b7309066-8099-4610-bb61-ab41d41d13f2.mp3"},"yoast_head":"\nMGX invests landmark USD 2 bn in Binance - 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