{"id":258199,"date":"2025-03-13T10:25:08","date_gmt":"2025-03-13T10:25:08","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2025\/03\/13\/binance-sells-minority-stake-to-abu-dhabis-mgx-sovereign-wealth-fund\/"},"modified":"2025-03-13T10:25:08","modified_gmt":"2025-03-13T10:25:08","slug":"binance-sells-minority-stake-to-abu-dhabis-mgx-sovereign-wealth-fund","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2025\/03\/13\/binance-sells-minority-stake-to-abu-dhabis-mgx-sovereign-wealth-fund\/","title":{"rendered":"Binance Sells Minority Stake to Abu Dhabi\u2019s MGX Sovereign Wealth Fund"},"content":{"rendered":"<div style=\"text-align:center\"><img decoding=\"async\" src=\"https:\/\/i1.wp.com\/i.gadgets360cdn.com\/large\/binance_facebook_large_1650531232960.jpg?ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"Binance Sells Minority Stake to Abu Dhabi\u2019s MGX Sovereign Wealth Fund\" title=\"Binance Sells Minority Stake to Abu Dhabi\u2019s MGX Sovereign Wealth Fund\" \/><\/div><p> <br \/>\n<\/p>\n<div>\n<p>Binance has sold off a minority stake to Abu Dhabi-based MGX for $2 billion (roughly Rs. 17,403 crore). MGX is a sovereign wealth management fund led by Sheikh Tahnoon bin Zayed Al Nahyan of the Abu 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&#8217;s first foray into the Web3 space.<\/p>\n<p><a class=\"sp_lnk2\" href=\"https:\/\/www.gadgets360.com\/tags\/changpeng-zhao\">Changpeng Zhao<\/a>, the co-founder and the majority stakeholder of <a class=\"sp_lnk2\" href=\"https:\/\/www.gadgets360.com\/tags\/binance\">Binance<\/a> announced the development on X on Wednesday, March 12. \u201cThis is the first institutional investment Binance has taken,\u201d he posted. Zhao highlighted that MGX&#8217;s financial transaction will be facilitated using stablecoins, making it the largest ever crypto transaction.<\/p>\n<div align=\"center\">\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">MGX, an Abu Dhabi sovereign wealth fund, invests $2 billion in <a href=\"https:\/\/twitter.com\/binance?ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\" target=\"_blank\">@Binance<\/a> for a minority stake. The transaction will be 100% in crypto (stablecoins), marking it the largest investment transaction done in crypto to date.<\/p>\n<p>This is also the first institutional investment <a href=\"https:\/\/twitter.com\/binance?ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\" target=\"_blank\">@Binance<\/a> has\u2026<\/p>\n<p>\u2014 CZ :large_orange_diamond: BNB (@cz_binance) <a href=\"https:\/\/twitter.com\/cz_binance\/status\/1899832759901626631?ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\" target=\"_blank\">March 12, 2025<\/a><\/p><\/blockquote>\n<\/div>\n<p>For MGX, the investment is aimed at exploring the amalgamation of AI and Web3. Binance, in its <a href=\"https:\/\/www.binance.com\/en\/blog\/ecosystem\/mgx-backs-binance-in-landmark-investment-6242106085221073480\" target=\"_blank\" rel=\"nofollow noopener\">announcement post<\/a>, claimed that the wealth fund wishes to dive deeper into AI-powered blockchain solutions, decentralised finance (DeFi), and the larger tokenised digital economy.<\/p>\n<p>\u201cAs institutional adoption accelerates, the need for secure, compliant, and scalable blockchain infrastructure and solutions has never been greater,\u201d said Ahmed Yahia, MGX&#8217;s CEO and Managing Director. \u201cMGX&#8217;s investment in Binance reflects our commitment to advancing blockchain&#8217;s transformative potential for digital finance.\u201d<\/p>\n<p>Rumours about Binance seeking a buyer had started making rounds in the crypto industry back in February. Zhao had <a href=\"https:\/\/www.gadgets360.com\/cryptocurrency\/news\/binance-sale-rumours-changpeng-zhao-ye-hi-response-7738289\">dismissed<\/a> the speculations at the time and claimed that Binance may overtime consider selling minority stakes in \u201csingle digit percentage range.\u201d<\/p>\n<p>Binance has yet to disclose the percentage of company stake acquired by MGX in the investment.<\/p>\n<p>Commenting on the development, Binance CEO Richard Teng said, \u201cOur goal is to build a more inclusive and sustainable ecosystem, with a strong focus on compliance, security, and user protection.\u201d Teng, who replaced Zhao as the Binance CEO in November 2023, previously served as the CEO of the Abu Dhabi Financial Services Authority.<\/p>\n<\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><br \/>\n<br \/><a href=\"https:\/\/www.gadgets360.com\/cryptocurrency\/news\/binance-sells-minority-stake-abu-dhabi-mgx-sovereign-wealth-fund-usd-2-billion-7915490#rss-gadgets-news\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Binance has sold off a minority stake to Abu Dhabi-based MGX for $2 billion (roughly Rs. 17,403 crore). MGX is a sovereign wealth management fund led by Sheikh Tahnoon bin Zayed Al Nahyan of the Abu Dhabi royal family. With a focus on advanced tech investments, MGX has funded a bunch of promising AI projects [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":258200,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","fifu_image_url":"https:\/\/i.gadgets360cdn.com\/large\/binance_facebook_large_1650531232960.jpg","fifu_image_alt":"","footnotes":""},"categories":[607],"tags":[21634,21633,7007,199294,7006,23627,5215,109522,16745,4872,16676,2341,10976],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/258199"}],"collection":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/comments?post=258199"}],"version-history":[{"count":1,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/258199\/revisions"}],"predecessor-version":[{"id":258201,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/258199\/revisions\/258201"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media\/258200"}],"wp:attachment":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media?parent=258199"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/categories?post=258199"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/tags?post=258199"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}