BNB Surges 7% After Binance Clinches $2 Billion from Abu Dhabi’s MGX
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- MGX invested $2 billion in Binance to acquire a minor stake in the crypto exchange.
- The firm paid for the stake using stablecoins, a record for the crypto industry.
- The partnership will enable an intersection between AI, blockchain technology, and finance.
BNB, Binance’s native token, climbed nearly 7% higher on news after the exchange secured a $2 billion investment from MGX, an Abu Dhabi sovereign wealth fund. This unprecedented deal marks Binance’s first-ever institutional investment – and the largest investment in the crypto space, fully backed by stablecoins. The message is clear: institutional money is taking crypto seriously.
MGX, an Abu Dhabi sovereign wealth fund, invests $2 billion in @Binance for a minority stake. The transaction will be 100% in crypto (stablecoins), marking it the largest investment transaction done in crypto to date.
— CZ
This is also the first institutional investment @Binance has…BNB (@cz_binance) March 12, 2025
According to a Binance report, this is MGX’s first-ever investment in the cryptocurrency and blockchain sectors. Binance stated that a stake in the exchange would allow the fund to boost its support for block…
The post BNB Surges 7% After Binance Clinches $2 Billion from Abu Dhabi’s MGX appeared first on Coin Edition.
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