Binance Secures $2 Billion Investment from Abu Dhabi's MGX

Edited by: Yuliya Shumai

On a recent date, Binance, the world's largest crypto exchange, announced a $2 billion investment from MGX, an Abu Dhabi-based technology investment firm. This marks MGX's initial foray into the crypto and blockchain space, acquiring a minority stake in Binance. The investment, conducted via stablecoin, aims to foster innovation in AI, blockchain, and finance. MGX's CEO, Ahmed Yahia, emphasized the need for secure and compliant blockchain infrastructure as institutional adoption grows. Binance recorded $651.5 billion in spot market volume in February, representing over a third of the total monthly volume.

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