Binance Sells Minority Stake to Abu Dhabi’s MGX Sovereign Wealth Fund for $ 2 Billion

Binance Sells Minority Stake to Abu Dhabi’s MGX Sovereign Wealth Fund for $ 2 Billion

Binance has sold off a minority stake to abu dhabi-spoiled MGX for $ 2 Billion (Roughly Rs. 17,403 Crore). MGX is a sovereign wealth management fund by sheikh tahnoon bin zayed al nahyan of the abu dhabi dhabi royal family. With a focus on Advanced Tech Investments, MGX has Funded A Bunch of Promising Ai Projects So far. Its purchase of a minority binance stake marks MGX’s first forward the web3 space.Changpeng zhao, the co-founder and the majority stakeholder of binance announced the development on X on XNESday, March 12. “This is the first institutional investment binance has taken,” He posted. Zhao highlighted that MGX’s Financial Transaction will be facilitated using stablecoins, Making it the largest evr crypto transaction.mgx, an abu dhabi dhabi solution wealth fund, invests $ 2 bat @Binance for a Minority Stake. The transaction will be 100% in Crypto (Stablecoins), Marking It the Larget Investment Transaction Done in Crypto to date.this is also the first institutional investment @Binance has… : Large_ORANGE_DIMOND: BNB (@cz_binance) March 12, 2025For MGX, The Investment is AIMED At Exploring The Amalgamation of Ai and Web3. Binance, in Its Announcement Post, Claimed That The Wealth Fund Wishes to Dive Deeper Into AI-Powered Blockchain Solutions, Decentralized Finance (Defi), and the Larger tokeenized Digital Economy. ” Institutional Adoption Accelerates, The Need for Secure, Compliant, and Scalable Blockchain Infrastructure and Solutions have been been green, “Said Ahmed Yahia, MGX’s CEO and MANAGING DIRECTOR. “MGX’s Investment in Binance Reflects Our Commitment to Advanceing Blockchain’s Transformative Potential for Digital Finance. Industry Back in February. Zhao Had dismissed the speech and claimed that binance may overtime consider seling mine stakes in “Single digit permentage range. Acquired by MGX in the Investment.No.Coning on the Development, Binance Ceo Richard Teng Said, “Our goal is to build a more inclusive and sustenable ecosystem, with a strong focus on complan Security, and User Protection. ” TENG, who replaced zhao as the binance ceo in November 2023, previously served as the ceo of the abu dhabi financial services authority. (Tagstotranslate) Binance Sells Minority Stake Abu Dhabi MGX Sovereign Wealth Fund UsD 2 Billion & Nbsp; Cryptocurrency (T) Binance (T) Abu Dhabi (T) MGX (T) Changpeng Zhao

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