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Tag: Binance

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

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

    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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  • Binance ropes in Khaby Lame as brand ambassador

    Binance ropes in Khaby Lame as brand ambassador

    Mumbai: Binance has partnered with the Italian Senegalese creator Khaby Lame, who grew to fame through his viral TikTok videos, to join as a global brand ambassador. As the blockchain ecosystem behind the world’s largest cryptocurrency exchange, Binance will partner with Khaby to increase web3 awareness and adoption.   

    Khaby became a sensation for his spin on “life hack” videos, navigating overly complicated scenarios without saying a word while doing the famous “Khaby move.” He’ll use his signature style to tackle some of the misperceptions around Web3 in this multi-year partnership. Lame will also partner on exclusive NFT collections with Binance, further enhancing the experience for his fans.  

    “I consider my followers as my family, and I am always looking for new challenges and interesting content to share with them,” said Khaby Lame.  

    He added, “I’ve been curious about Web3 for some time, and jumped at the chance to partner with a leader like Binance because it aligns perfectly with what I usually do: make complex stuff easy and fun for everyone!”

    “Khaby has become a cultural icon and one of the most entertaining creators globally. We love his charm and sense of humour, and think it will bring relevance and relatability as we scale Web3 adoption,” said Binance Global vice president of marketing James Rothwell. “With so much nuance around Web3 and misinformation in the world, it was a perfect match to have Khaby on board to help debunk some of the myths around this space.”  

    Lame is currently the most-followed creator on TikTok, with more than 142 million followers on the platform, and 78 million followers on Instagram.

  • Binance Labs closes $500 mn investment fund to boost crypto, web3 and blockchain adoption

    Binance Labs closes $500 mn investment fund to boost crypto, web3 and blockchain adoption

    Mumbai: Crypto exchange Binance’s venture capital and incubation arm Binance Labs on Wednesday announced the closing of a new $500 million investment fund. The fund is supported by leading global institutional investors such as DST Global Partners, Breyer Capital, as well as other major private equity funds, family offices, and corporations as limited partners.

    The new fund will be invested in projects to boost the use of blockchain, web3, and value-building technologies.

    Binance founder and CEO Changpeng Zhao said: “In a web3 environment, the connection between values, people, and economies is essential, and if these three elements come together to build an ecosystem, that will accelerate the mass adoption of the blockchain technology and crypto. The goal of the newly closed investment fund is to discover and support projects and founders with the potential to build and to lead web3 across DeFi, NFTs, gaming, metaverse, social, and more.”

    Since 2018, Binance Labs has invested in and incubated more than 100 projects from over 25 countries. Its portfolio includes industry-leading projects such as 1inch, Audius, Axie Infinity, Dune Analytics, Elrond, Injective, Polygon, Optimism, The Sandbox, and STEPN.

    Binance Labs makes investments across three different stages: incubation, early-stage venture, and late-stage growth. The $500 million investment fund is expected to be allocated to projects spanning all three stages.

    With incubation, Binance Labs aims to connect projects with Binance’s network of resources, experts, and mentors to help them drive successful product development and growth. Binance Labs runs its incubation program regularly and is currently supporting its fourth cohort.

    Early-stage venture investments include token and equity investments across all sectors of cryptocurrency and web3, including infrastructure, DeFi, NFTs, gaming, metaverse, social, and crypto adoption platforms.

    Late-stage growth investments target more mature companies looking to scale or bridge into the web3 ecosystem with the Binance ecosystem as a solid strategic partner.

  • Binance becomes official crypto exchange partner of Grammys 2022

    Binance becomes official crypto exchange partner of Grammys 2022

    Mumbai: Global blockchain company Binance has partnered with The Recording Academy to become the ‘first-ever official cryptocurrency exchange partner’ for the 64th Annual Grammy Awards and Grammy Week events, including the inaugural Recording Academy Honors celebration. 

    “Binance will continue to work with The Recording Academy to bring various Web3 technology solutions and experiences to the organisation’s members, events and initiatives throughout the year,” said the crypto platform in a statement on Friday.

     “As we continue to evolve the Recording Academy for a rapidly changing music industry and for the next generation of creators, we feel that it’s important to work with innovative partners to explore new monetisation avenues for our members and create new experiences for music fans,” said Recording Academy co-president Panos A Panay. “As the leading player in the crypto and blockchain space and with its community-focused approach, Binance is the perfect partner for the Grammys and for our mission to empower music people around the world.”

    “We were impressed by the Recording Academy’s ability to meet changing demands by its community—this is something we mutually share as a company that puts users and people first,” said Binance co-founder Yi He. “Starting with the Grammys, we are excited to work together with the Recording Academy to bring fresh new experiences powered by blockchain and all the great things Web3 technology can bring to entertainment.”

    Additional details about the partnership will be announced at a later date.

    Live from MGM Grand Garden Arena in Las Vegas, SonyLIV will be exclusively streaming the 64th edition of Grammy Awards in India on 4 April at 5:30 a.m IST.

  • Binance announces strategic partnership with SM Brand Marketing

    Binance announces strategic partnership with SM Brand Marketing

    Mumbai: Blockchain ecosystem and cryptocurrency infrastructure platform Binance has signed a MoU to build a comprehensive partnership with SM Brand Marketing (SMBM), a subsidiary of a South Korean entertainment company SM Entertainment.

    As part of the comprehensive partnership, Binance and SMBM will establish a global Play-to-Create (P2C) ecosystem. The partnership will begin with cooperation in the NFT sector and the creation of a joint eco-fund.

    Conceptualised by Soo-Man Lee, the music executive of SM, P2C allows users to reproduce content using IP. “By using the tools and IP provided within the e-commerce and metaverse platforms, users can recreate content and products in the forms of games, music, dance, and goods,” said the statement.

    Within the P2C ecosystem, these contents and products can be converted into NFTs, allowing users to earn profits while also gaining recognition for their originality. The P2C ecosystem is a step forward from the existing Play-to-Earn (P2E) model, it added.

    “Binance is happy to be working with SMBM to advance the current P2E ecosystem into a P2C ecosystem,” said Binance NFT global head Helen Hai. “We would like to provide SMBM with the robust technology that can support the numerous Kpop global fans who enjoy recreating content based on their favorite Korean celebrities and want to earn passive income through their hobbies.”

    With the strategic partnership, Binance and SMBM will collaborate to create an ecosystem where global creators can easily participate in recreation using IP and profit from their original content and projects in a transparent manner. The P2C ecosystem created through recreation will also enhance the creative culture within the K-pop industry. Fans, artists, and companies are brought together to join forces on these e-commerce and metaverse platforms, the statement said.

    Binance and SMBM will be working jointly on the blockchain mainnet, NFT, and eco-fund to establish the P2C ecosystem. Binance will also provide the technology infrastructure for the overall blockchain and NFT ecosystem. Meanwhile, SMBM will provide the vast IPs managed by SM, including EXO, Red Velvet, NCT, aespa, and more, and support with content planning and platform construction, it added.

    “By combining together SM’s production capabilities, SMBM’s e-commerce platform capabilities, and Binance’s technology infrastructure, we expect this comprehensive partnership will bring great innovation in the establishment of the P2C ecosystem and expansion of businesses in the blockchain industry,” stated SMBM CEO Sung-su Lee. “It is also an opportunity for fans to build a new participatory creation culture through recreation and to gain economic benefits by being on the blockchain.”