Middle Eastern Sovereign Fund Injects $2 Billion into Binance, Becoming Its Strongest Backer
A Middle Eastern sovereign wealth fund, MGX, has invested $2 billion in Binance, making it a major backer of the crypto exchange. The investment is reportedly being paid using USD1, a stablecoin issued by Trump-linked project World Liberty Financial (WIFI), in which an Abu Dhabi royal's investment vehicle, Aryam, acquired a 49% stake for $500 million. MGX, chaired by Sheikh Tahnoun bin Zayed Al Nahyan, is a major force in global tech investments, with stakes in AI companies and a recent 15% holding in TikTok's new U.S. entity. The United Arab Emirates has emerged as a key crypto hub, offering regulatory licenses to major exchanges like Binance, OKX, and Bybit, and its capital is significantly influencing the Web3 industry.
比推02/03 14:39