Binance Secures $2 Billion Investment from MGX

On Wednesday, Binance, the renowned crypto exchange, announced a significant investment from MGX, an Abu Dhabi-based investment firm, totaling $2 billion.

This investment marks both the first institutional placement for Binance and MGX’s inaugural foray into digital asset investment, as per their press release. Notably, the investment was conducted in stablecoins, although specific currency details were not disclosed.

As the world’s largest crypto exchange by trading volume—exceeding $20 billion daily, according to CoinMarketCap—Binance has established operations in Abu Dhabi, employing roughly 1,000 people in the region.

Richard Teng, the current CEO of Binance, previously led the Abu Dhabi Financial Services Regulatory Authority.