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isac.eth
@mrwsi
MGX, an AI-focused fund from Abu Dhabi, is investing $2 billion in Binance, marking the largest institutional investment in the cryptocurrency exchange. The minority stake will be paid in stablecoins, though the specific type was not disclosed. MGX aims to integrate AI, blockchain technology, and finance. Binance, operating from the UAE with around 1,000 employees, is seeking to rebuild its reputation after a $4.3 billion fine in 2023 for failing to prevent money laundering.
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