The rumors of Binance's acquisition surfaced just in time for the third month, and this largest cryptocurrency exchange in the world announced its first institutional investment in history. On March 12, 2024, Binance announced that it received a $2 billion investment from MGX, an investment firm based in Abu Dhabi. This is not only a milestone in Binance's development history but also the largest institutional investment in the cryptocurrency industry to date.
Against the backdrop of increasing global regulatory pressure and sluggish market sentiment, this investment clearly sends a strong signal to the outside world — Binance remains a "hot cake" in the eyes of global capital, especially in the Middle East.
According to the official website of MGX, the investment firm in Abu Dhabi was established in March 2024 and is affiliated with the Abu Dhabi Artificial Intelligence Committee (AIATC), which was established in January 2024, focusing on promoting the development of Abu Dhabi in the fields of artificial intelligence and advanced technology.
The chairman of its board is Tahnoun bin Zayed Al Nahyan — a name that resonates in the business, political, and global capital markets of the UAE.
MGX primarily invests in artificial intelligence, data technology, semiconductors, and advanced computing technology, and its investment in Binance marks its official entry into the cryptocurrency and blockchain space. In other words, this is not just a transaction but a strategic bet by Abu Dhabi capital on the future of digital assets.#币安
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