The Abu Dhabi -based MGX firm has invested $ 2 billion in the cryptocurrency exchange Binance, who potentially marked one of the biggest deals in funding industry history.
On a March 12 announcementBinance said the transaction was the first institutional investment in the cryptocurrency exchange. Once that isfinalized, the deal will be funded entirely by stablecoins.
Binance rejected Cointelegraph’s request to reveal what Stablecoin used in the transaction.
The deal marks the first MGX foray in the cryptocurrency sector. The investment company carved a niche in emerging technology, with focus on data centers, clean energy and AI.
Source: Binance
By investing in Binance, MGX wants to “enable change in AI intersection, blockchain and financial technology,” the announcement said.
Binance is the largest crypto exchange worldwide based on users and day -to -day transaction volume. The company says there are more than 260 million registered users.
According to CoinMarketCap, there are 466 cryptocurrencies available in Binance. Number Cointelegraph recently reportedThe exchange considers changes in quality control in its listing process following the explosion of altcoins over the last year.
Related: VC ROUNDUP: Investors will continue to restore Definit, Web3 Gaming, Layer-1 Rwas
The funding of venture capital to increase
2025 is shaping up to be a strong year for crypto venture capital deals. In February, 137 crypto companies Raised a combined -with $ 1.11 billion In funding, according to data from the tie.
After raising a joint $ 13.6 billion in 2024, crypto companies are expected to increase more than $ 18 billion this year, according to the pitchbook.
Much of that growth is tied to the positive regulation development in the United States and the hope of more desirable financing conditions.
“As we enter into a supporting macro environment driven by the US stimulus policy and the formality of the frameworks of crypto regulation, these Macro tailwinds are set to drive more VC investments to 2025,” Hashkey Capital CEO Deng Chao told Cointelegraph.
The US manufacturing PMI, who has long been seen as a reliable business cycle predictor, has been positive for the first time for more than two years. Source: Livelihood of trading
So far this year, the Macro Environment is far from support as trade-war tensions and shrinkage fears have triggered a significant pulling asset prices. However, conditions are expected to improve in the coming months as the Business twist speeds up and global liquidity spikes poured into danger.
Magazine: The secret of pitching to men VCS: Crypto Founders exploded
