Briefing

Binance Raises $2 Billion From Abu Dhabi’s MGX

MGX is taking a minority stake in the world’s biggest crypto exchange.
By
Yueqi Yang
Source:The Information

Binance, the world’s biggest crypto exchange, announced it has received a $2 billion investment from MGX, an Abu Dhabi-based sovereign wealth fund.

The minority stake in Binance marks the first crypto bet by MGX, which has invested in artificial intelligence startups including OpenAI and Anthropic. It’s also the first institutional investment Binance has received to date.

Binance said it currently employs about 1,000 of its 5,000 global workforce in the United Arab Emirates.