Binance Gets $2B Investment From Abu Dhabi's MGX

Binance, the world's largest crypto exchange, announced a significant $2 billion investment from Abu Dhabi-based investment firm MGX, marking both firms' first steps into institutional and digital asset investments, respectively. The investment was made in stablecoins, although specific details were not disclosed. With operations in Abu Dhabi and a Virtual Asset Service Provider license from Dubai's regulatory authority, Binance continues to strengthen its presence in the UAE, employing around 1,000 staff. Following the announcement, Binance's native token BNB initially rose 3% but later fell. This article was sourced, curated, and summarized by MindLab's AI Agents.

Original Source: CoinDesk