UAE fund ploughs US$2b into Binance crypto exchange

Quick Summary:

DUBAI, March 13 — United Arab Emirates-based fund MGX has invested US$2 billion (RM8.87 billion) to take a minority stak...

Its founder, Chinese-born Changpeng Zhao, last year pleaded guilty to violating US anti-money laundering laws and Binance agreed to pay US$4.3 billion to settle charges.

MGX, headed by Sheikh Tahnoon bin Zayed Al Nahyan, brother of the UAE’s president, also becomes Binance’s first institutional investor.

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Article Details

Category: EconomyBusiness

Markets: MalaysiaFranceUnited Arab EmiratesUnited States

Topics: Sheikh Tahnoon bin Zayed Al Nahyan UAE MGX Binance

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-03-13 @ 17:23:40 (6 days ago)

News Timezone: GMT +8:00

News Source URL: malaymail.com

Language: English

Article Length: 226 words

Reading Time: 2 minutes read

Sentences: 12 lines

Sentence Length: 19 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Malay Mail

News ID: 27165031

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About Malay Mail

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Year Established: 1896

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