Crypto Exchange Binance rated 2 billion US dollar StableCoin investment by Abu Dhabis MGX

Binance, the world’s largest cryptocurrency exchange through trading volume, has sold a minority stake to the state investment company MGX in the United Arab Emirates for $ 2 billion.

The deal was paid in an unnamed stable coin, Binance said in a statement on Wednesday. The Crypto Exchange added that business is the company’s first institutional investment and is the largest in the world in a crypto company. Binance did not open any details, including the size of the proportion, the final date of the deal and the use of the proceeds.

In the statement, MGX said the investment marked their first excursion to the crypto industry. The company finances Stargate, an AI infrastructure project of 500 billion US dollars in the USA, which was listed by Chatgpt Developer Openaai and Japanese Tech investment giant Softbank Group.

The investment takes place during a Pro crypto regime, which is largely thanks to grateful assets for a friendly regulatory environment for a friendly regulatory environment for a friendly regulatory environment. Last month, the US Securities and Exchange Commission asked a court to keep its case against Binance in a joint application with the Krypto exchange. The Financial Watchdog sued Binance and its billionaire founder Changpeng Zhao in 2023 and accused the exchange for abuse of customer funds and the artificial inflation of trade volumes.

In the same year, Binance was guilty of violating us against the American anti-money laundering laws and agreed to pay fines of $ 4.3 billion. As part of a settlement with the US authorities, Zhao resigned as a CEO of Binance in 2023 and served four months in prison for money laundering injuries in 2024. It was replaced by Richard Teng, a former exchange regulator in Singapore and the ex-CEO of Abu Dhabi Financial Services Authority.

Zhao founded Binance in 2017 and has expanded since then that he was processed into the world’s largest crypto exchange of more than $ 11 billion in the trading volume of more than 24 hours on Thursday, Tracker Coingecko said. Zhao, who has a majority stake in Binance, is Crypto’s richest person with a net asset of more than 60 billion US dollars. Forbes estimated. After Zhao had been released from the US carefully in September 2024, he now played an advisory role in Binance’s risk capital arm, YZI Labs, said the stock exchange in January. Yzi Labs, formerly Binance Labs, invest in blockchain, AI and biotech startups.

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