😂 A bit late to the party, I just saw in the news that #Binance has received an investment from MGX. Many friends have dug up some information about MGX, so I’ll add a little more. MGX was co-founded by the Abu Dhabi sovereign fund Mubadala and G42, with funding primarily coming from the UAE government and some global partners, focusing on Mubadala.

I wonder if you all remember this sovereign fund. Yes, this is the first sovereign fund to publicly announce indirect investments in Bitcoin. As of Q4 2024, it holds $436 million worth of $IBIT.

So why IBIT? Could it be because MGX also partnered with BlackRock and Microsoft to establish a $30 billion AI and data center fund, and IBIT itself is BlackRock's Bitcoin spot ETF? But that’s not the end of it.

The $2 billion investment in Binance from MGX is a bit nuanced, as neither Binance nor MGX has disclosed whether it is MGX's own funds or investments from the AI and data center fund established with BlackRock and Microsoft. Of course, aside from the parties involved, no one may know, but this combination is indeed very interesting.

I have always believed that the market does not move without reason. At the end of last year, there were rumors that Binance would be invested in or sold, which caused quite a stir. Later, the official side expressed a welcoming attitude towards "discussions" for strong partnerships. Now it seems to be half true and half false, but at that time, it did mention top U.S. funds like BlackRock and Fidelity.

Regardless, this is an important step forward for Binance. Even if there is currently no shadow of U.S. capital, there may still be opportunities in the future under MGX's connection, and such strategic cooperation will undoubtedly benefit both parties.

This tweet is sponsored by @ApeXProtocolCN | Dex With ApeX

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