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Abu Dhabi’s MGX to invest $2bn in crypto exchange Binance

Abu Dhabi investment group MGX has made a $2 billion investment in Binance, marking the first institutional investment by the cryptocurrency exchange.
The investment was made in stablecoin, which is pegged to fiat currency like the dollar, according to statements from Binance and MGX.
MGX aims to support the United Arab Emirates' goal of becoming a global center for digital assets and to diversify its economy.
MGX CEO Ahmed Yahia stated the investment shows commitment to the transformative potential of blockchain in digital finance.

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CNBC

CONVERGE LIVE updates: Top executives from Binance, Ferrari and OpenAI to speak on day 2

Welcome to CNBC's live blog on the second and final day of CONVERGE LIVE in Singapore.

2 days ago·United States

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Al Bawaba

The largest of its kind: The UAE invests $2 billion in cryptocurrencies.

Binance, the world's largest cryptocurrency exchange, announced that MGX, a leading UAE-based AI and advanced technology investment firm, has invested $2 billion in a cryptocurrency stablecoin...

2 days ago·Amman, Jordan

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Financial Times

Abu Dhabi’s MGX to invest $2bn in crypto exchange Binance

Emirates investment fund to buy minority stake with stablecoins

2 days ago·London, United Kingdom

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Channel News Asia

Crypto exchange Binance gets $2 billion investment from Abu Dhabi's MGX

DUBAI :Abu Dhabi investment group MGX has invested $2 billion worth of cryptocurrency into Binance, in what the world's largest cryptocurrency exchange said on Wednesday was its first institutional investment. Binance and MGX said in statements posted on their website that the investment was made in stablecoi

2 days ago·Singapore

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Coin Desk

Crypto Exchange Giant Binance Gets $2B Investment From Abu Dhabi's MGX

It's the first institutional investment in the crypto exchange and the investment was made in stablecoin, Binance said.

2 days ago·Manila, Philippines

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Bloomberg

Binance Says Abu Dhabi’s MGX Makes $2 Billion Investment

Binance said Abu Dhabi’s MGX has acquired a minority stake for $2 billion, the first institutional investment in the world’s largest cryptocurrency exchange.

2 days ago·United States

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