Gaming

Binance Closes Record-Setting $2 Billion Institutional Investment From UAE-Based MGX

Published

11 months ago

March 18, 2025

Abu Dhabi-based technology investment company MGX has made a record-breaking $2 billion investment in the leading cryptocurrency exchangeBinance. The transaction, conducted in an unnamed stablecoin, marks the first institutional investment in Binance. It also stands as the largest single investment in a cryptocurrency firm and the biggest digital asset-funded placement, including stablecoins.

At the same time, the deal representsMGX ‘s first-ever crypto-focused investment. The company is dedicated to accelerating the adoption and development of cutting-edge technologies, with a strong emphasis on artificial intelligence (AI). To achieve this, MGX has established strategic partnerships both in the UAE and globally while channeling investments into high-impact sectors where AI can drive large-scale economic transformation—ranging from software, semiconductors, and infrastructure to life sciences, physical AI, and tech-enabled services.

Currently, Binance ranks as the world’s largest cryptocurrency exchange, with its cumulative trading volume exceeding $100 trillion. The platform is trusted by over 260 million registered users across more than 100 nations.

Binance provides a diverse range of digital asset services, including trading, finance, institutional offerings, and payments, as well as Web3 features, research, and social good initiatives. According to CoinMarketCap, users traded nearly $20 billion in cryptocurrencies on Binance’s spot market and over $62 billion in derivatives pairs on the exchange in the past 24 hours alone.

Accelerating Crypto Adoption

Binance CEO Richard Teng described his company’s deal with MGX as “a significant milestone for the crypto industry and for Binance.” According to him, the two organizations will “shape the future of digital finance.”

“Our goal is to build a more inclusive and sustainable ecosystem, with a strong focus on compliance, security, and user protection. Binance remains committed to working with regulators worldwide to establish transparent, responsible, and forward-thinking policies for the crypto industry. Our ongoing investments in security and compliance reinforce our mission to foster a secure and trusted digital financial ecosystem,” he added.

Teng, a former CEO of the Abu Dhabi Financial Services Regulatory Authority (FSRA), played a key role in developing one of the world’s first cryptocurrency regulatory frameworks. According to a press release published on Binance’s website, his expertise in regulatory strategy has been instrumental in shaping the exchange’s compliance approach.

MGX Managing Director Ahmed Yahia believes that his company’s investment in Binance reflects its commitment to advancing blockchain’s transformative potential in digital finance. He emphasized that the demand for secure, compliant, and scalable blockchain infrastructure and solutions “has never been greater.”

“Binance has long been a driving force in cryptocurrency innovation, from exchange technology and tokenization to staking and payments. Together, we are committed to building a more inclusive and robust digital finance ecosystem,” Yahia added.

The UAE’s Growing Role in Crypto Adoption

Over the past few years, the UAE has emerged as a global leader in digital asset adoption. Since Dubai’s introduction of the Virtual Assets and Related Activities (VARA) framework for cryptocurrencies in February 2023, numerous crypto firms have relocated their headquarters to the Gulf nation, drawn by its progressive regulatory landscape.

Even before the introduction of the VARA framework, Binance had already established a strong presence in the UAE. The company recognizes the nation as a global hub for innovation and forward-thinking digital asset regulation.

As of March 13, 2025, Binance employs approximately 1,000 people in the UAE—around 20% of its global workforce of 5,000. Two of Binance’s subsidiaries operate under licenses issued by UAE regulators, further solidifying the company’s long-term commitment to the region.

A Record-Breaking Raise

Binance’s $2 billion raise marks a new record in the cryptocurrency space. Moreover, it nearly doubles the total value of all digital asset venture capital (VC) deals in February 2025. Last month, venture capitalists funded 137 crypto firms with a combined $1.11 billion, according to a report by The TIE.

In February, the top-funded sectors included business service providers, DeFi, security services, payments, and artificial intelligence. However, despite strong VC activity, the largest single raise last month by a crypto company was $79.95 million—a figure that pales in comparison to Binance’s massive $2 billion deal.

With Binance’s investment eclipsing last month’s total VC funding, this record-setting placement could set the stage for an increase in institutional and venture capital investments in the coming months. As regulatory frameworks continue to evolve and institutional interest in crypto expands, the exchange’s latest funding milestone signals growing confidence in the long-term potential of digital assets.

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Gaming

Checkmate Goes Digital as Chess Joins Esports Nations Cup 2026

From boards to bytes, chess readies for a nation-first showdown in Riyadh.

Published

1 week ago

February 9, 2026

indiantelevision.com Team

MUMBAI: When pawns meet power plays, the game changes. Chess, the world’s oldest mind sport, is officially stepping deeper into the digital arena after the Esports World Cup Foundation confirmed it as one of 16 titles at the inaugural Esports Nations Cup 2026, set to unfold in Riyadh from 2 to 29 November.

For a game synonymous with quiet halls and ticking clocks, this is a bold move. Chess at ENC 2026 promises scale, spectacle and serious competition, fielding an unprecedented 128 players and opening the board to fresh talent and underrepresented nations as the sport’s esports evolution gathers pace.

The chess competition will run from November 2 to November 8, culminating in a playoff final. The opening phase features 128 players split into 16 round-robin groups of eight, with the top four from each group advancing.

That leaves 64 players battling it out in a single-elimination playoff bracket. Early rounds will be best-of-two, while the quarterfinals onward step up to best-of-four encounters. Deadlocks will be settled via Armageddon tie-breakers, and all matches will be played in a Rapid 10+0 format, designed for speed, tension and drama.

National pride is front and centre. Of the 128 slots, 64 players will receive direct invitations based on Champions Chess Tour rankings, limited to one per nation. Another 56 players will qualify through regional online qualifiers, while eight wildcard spots round out the field.

Qualifiers will be hosted by Chess.com across seven regions, including Middle East + India + Central Asia, with two qualifier windows in June 2026. Each country can field a maximum of two players, ensuring both depth and diversity across the draw.

Chess already tasted esports stardom at the 2025 Esports World Cup, where 20 nations were represented and the intensity surprised even purists. The event ended with Magnus Carlsen lifting the title for Team Liquid, sealing chess’s credentials as a natural fit for high-stakes digital competition.

India’s top-ranked player Arjun Erigaisi called the experience “unlike any chess tournament I’ve played before”, adding that the energy of the esports stage is drawing new audiences into the game.

For commentators and fans alike, the shift to a nation-based format raises the stakes. Chessbase India co-founder Sagar Shah likened the moment to the excitement of the Chess Olympiad, while grandmaster and broadcaster Tania Sachdev said the national format adds “pride, pressure and passion” that pulls viewers in deeper.

From silent calculation to roaring crowds, chess at the Esports Nations Cup 2026 is less about moving pieces and more about moving perceptions. Checkmate, it seems, has gone fully digital.

Gaming

Road to EWC unites 230 tournaments worldwide ahead of Esports World Cup 2026

Published

2 weeks ago

February 5, 2026

indiantelevision.com Team

RIYADH: The Esports World Cup Foundation has launched Road to EWC, a worldwide qualification programme for the Esports World Cup 2026, stitching together more than 230 tournaments across major esports regions into a single global competitive season.

Running from grassroots qualifiers to elite international leagues, the initiative creates a unified pathway for players and clubs to reach the Esports World Cup finals in Riyadh from 6 July to 23 August, 2026. The season integrates publisher-led ecosystems and major circuits into one calendar, offering year-round visibility for fans and structured progression for competitors.

“Road to EWC brings together the journeys that shape competitive esports,” said Esports World Cup Foundation chief product officer Faisal Bin Homran. “It gives players, clubs, publishers and fans a defined season to plan around, building a sustainable and global competitive ecosystem.”

The qualification network spans leading events including the Apex Legends Global Series, Capcom Cup, Chess.com Global Championship, EVO, Free Fire World Series, EA Sports FC Pro, Pubg Global Series, Rocket League Championship Series, Overwatch Champions Series, Tekken World Tour Finals, and official circuits for Call of Duty, League of Legends, Fortnite, Rainbow Six Siege, Trackmania and Valorant.

Open online qualifiers will also run for titles such as Dota 2, Teamfight Tactics, Call of Duty: Warzone and Chess, widening access for emerging talent.

In 2025, more than 2,500 players from over 100 countries qualified through the Road to EWC programme. Highlights included 15-year-old Free Fire player Rasyah Rasyid becoming the youngest champion in event history, EA FC star Manuel Bachoore claiming gold, and Street Fighter icon Zeng “Xiao Hai” Zhuojun securing another major title. Team Falcons captured their second club championship following a dramatic Overwatch 2 victory.

A dedicated Road to EWC hub will track qualification events, schedules and viewing options throughout the season. Ticket sales for the Esports World Cup 2026 are now live, with international partners across the US, Europe, Middle East, India and China.

The Esports World Cup returns to Riyadh next summer, bringing together the world’s top clubs across multiple game titles to compete for the largest prize pool in esports history.

Gaming

Nintendo shares slide 10 per cent despite profit jump, hit by chip shortages

Published

2 weeks ago

February 4, 2026

indiantelevision.com Team

KYOTO: Nintendo shares slid more than 10 per cent on Wednesday, a day after the gaming giant missed market forecasts for quarterly revenue and warned of mounting pressure from a global memory chip shortage, as per media reports.

The company beat profit expectations, posting a 24 per cent year-on-year rise, driven by strong sales of the Nintendo Switch franchise. Revenue surged 86 per cent, with the original Switch now the firm’s best-selling console since its launch in 2017.

Yet rising component costs are weighing on investor sentiment. Nintendo relies heavily on dynamic random access memory (DRAM), a segment grappling with acute shortages as artificial intelligence and data centre demand soak up supply.

Ortus Advisors head of Japanese equity strategy Andrew Jackson, said markets remain uneasy about the impact of higher memory prices on Nintendo’s margins.

President Shuntaro Furukawa acknowledged that while soaring memory costs have not yet dented results for the current financial year, prolonged price pressures could squeeze profitability.

TrendForce estimates that contract prices for conventional Dram chips in the first quarter could jump between 90 and 95 per cent from the previous quarter. A senior semiconductor industry executive recently told CNBC the shortage may last until 2027.

Kantan Games chief executive of consultancy Serkan Toto, said sustained cost inflation could force Nintendo to raise console prices: a risky move for its largely casual user base.

The company’s newest device, Switch 2, launched in June last year and already dominates its console sales mix. But analysts warn that momentum in the first year is critical for any new platform.

Concerns persist over whether Switch 2 can match the runaway success of its predecessor, despite Nintendo holding firm on its full-year sales forecast.

The outlook hinges on upcoming blockbuster releases, including Mario Tennis Fever in February and Pokémon Pokopia in March. Nintendo is also banking on The Super Mario Galaxy Movie, due in April, to replicate the sales boost sparked by its 2023 hit film.

Omdia senior analyst James McWhirter, said 2026 would be a “make-or-break” year as Nintendo seeks broader mass-market appeal for Switch 2.

Nintendo shares are down more than 15 per cent so far this year.