Binance Receives $2 Billion Investment From UAE's MGX

The Abu Dhabi-based sovereign wealth fund's investment marks Binance's first institutional backing and the largest crypto investment to date.

MGX, a UAE state-backed investment firm specializing in AI and tech, invested $2 billion in Binance, paid entirely in stablecoins.
The deal grants MGX a minority stake in Binance, though details on valuation and specific stablecoins were not disclosed.
This is Binance's first institutional investment and represents the largest single investment in a cryptocurrency firm in the industry's history.
The investment strengthens Binance's ties to the UAE, where 20% of its workforce is based, and highlights the nation's supportive crypto regulatory environment.
The move follows Binance's efforts to rebuild its reputation after a $4.3 billion settlement with the U.S. Department of Justice in 2023 over compliance issues.