Binance gets first institutional investment of $2b from Abu Dhabi's MGX

Binance gets first institutional investment of $2b from Abu Dhabi's MGX

FILE PHOTO: Smartphone with displayed Binance logo and representation of cryptocurrencies are placed on a keyboard in this illustration taken, June 8, 2023. REUTERS/Dado Ruvic/Illustration/File Photo

Abu Dhabi-backed investment group MGX has made a $2 billion cryptocurrency investment in Binance, the companies said on Wednesday, deepening ties between the world’s largest crypto exchange and the United Arab Emirates.