 |
|
 |
|
 |
|
 |
|
 |
|
 |
|
 |
|
 |
|
 |
|
 |
|
 |
|
 |
|
 |
|
 |
|
 |
|
The investment marks the first institutional placement in the exchange and it's also the first digital asset-focused investment for MGX
Abu Dhabi-based investment firm MGX has made a $2 billion investment in crypto exchange giant Binance, the exchange announced on Wednesday.
The investment marks the first institutional placement in the exchange and it's also the first digital asset-focused investment for MGX, according to a press release. The investment was made in stablecoins, the statement noted, though it did not specify which currency was used.
Binance is the largest crypto exchange by trading volume in the world with over $20 billion daily volume, CoinMarkatCap data shows. The trading platform already established a presence in Abu Dhabi, employing around 1,000 people in the city, according to the company.
The firm's Dubai subsidiary, Binance FZE, obtained a Virtual Asset Service Provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority (VARA) last year, which allows the company to offer a broad range of exchange and trading services across the entire United Arab Emirates. Binance's Abu Dhabi subsidiary was granted permission to provide custody services by the Abu Dhabi Financial Services Regulatory Authority.
Richard Teng, now the CEO of Binance, previously headed the Abu Dhabi Financial Services Regulatory Authority.
BNB, the native token of the Binance-adjacent BNB Chain, jumped 3% to $574 immediately on the news before giving back the gains and sliding to $550.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
-
- Bitcoin, CPI Week, and Pepeto: Navigating Market Volatility for Potential Gains
- Oct 13, 2026 at 04:05 am
- As CPI week approaches, the crypto market holds its breath. Bitcoin hovers near key resistance levels, while the innovative Pepeto presale offers a different path to potential returns, attracting early adopters seeking significant growth.
-
- Kaspa Founder, Kaspa Community, Growing Criticism: The Silent Scientist vs. The Roaring Crowd
- Oct 13, 2026 at 04:05 am
- Amidst rising criticism, Kaspa founder Yonatan Sompolinsky's silence is viewed by supporters as a strategic strength, drawing more attention to the project and its robust technical foundations.
-
- Uniswap's Unichain Embraces OP Enterprise for a Supercharged Future in Interoperability
- Oct 13, 2026 at 04:05 am
- Uniswap's Unichain is making a strategic move to OP Enterprise, aiming for native interoperability within the Optimism Superchain, with key migration dates set for October 2026. This upgrade signals a future of seamless cross-chain asset flows and enhanced developer opportunities.
-
- Hardware Wallets & Crypto Security: Navigating the Shifting Sands of Digital Custody in NYC
- Oct 13, 2026 at 03:59 am
- Recent hardware wallet compromises, particularly the Ledger incident, have ignited a crucial debate in the crypto world: are self-custody devices truly safer than exchange-traded funds (ETFs)? This news release delves into the evolving landscape of crypto security, supply chain vulnerabilities, and the ongoing quest for robust digital asset protection, all with a nod to the savvy New Yorker.
-
-
- DeepSeek Invests Big in Robot Brains with Ex-Tencent Scientist's Startup
- Oct 13, 2026 at 03:55 am
- DeepSeek is leading a seed round for Winverse AI, a robotics startup founded by an ex-Tencent scientist, signaling a major push into real-world AI applications and a competitive move in the robotics space.
-
-
- Tether Freezes $10M in USDT Tied to CryptoBilis Ledger Theft: A Deep Dive into Stablecoin Security
- Oct 13, 2026 at 12:05 am
- Tether has frozen $10 million in USDT connected to the CryptoBilis Ledger wallet theft, highlighting the ongoing debate about centralized stablecoin controls versus decentralized crypto principles.
-
