Binance Secures $2 Billion Investment from Abu Dhabi’s MGX
Binance announced a $2 billion investment from Abu Dhabi-based MGX, marking its first institutional placement. This is also MGX's inaugural digital asset-focused investment.
- The investment was made in stablecoins, specific currency details were not disclosed.
- Binance is the largest crypto exchange globally with over $20 billion in daily trading volume.
- Binance has a presence in Abu Dhabi, employing approximately 1,000 staff.
- Richard Teng, Binance's CEO, previously led the Abu Dhabi Financial Services Regulatory Authority.