mgx

According to Bloomberg, the Abu Dhabi investment platform MGX has recently raised nearly $50 billion from Middle Eastern sovereign wealth funds, global pension funds, and large institutional investors to accelerate investments in artificial intelligence infrastructure and related technology projects.Insiders say that this round of funding will primarily support MGX's large-scale expenditures on computing power, data centers, and AI technology layout, in order to promote its investment pace and scale in the regional and global AI industry chain.

ChainCatcher news, according to CoinDesk, Eric Trump, the son of U.S. President Trump, stated that the USD-pegged stablecoin USD1 issued by World Liberty Financial (WLFI) has been officially selected as the stablecoin for Abu Dhabi investment firm MGX to complete its $2 billion investment in Binance.Eric Trump said at the Token2049 event held in Dubai: "We thank MGX and Binance for their trust in us, and I believe this is just the beginning."Earlier this year, Abu Dhabi-based investment firm MGX invested $2 billion to acquire a stake in Binance. World Liberty Financial announced its plans to issue a dollar-backed stablecoin in partnership with BitGo in March of this year.

ChainCatcher news, Zhao Changpeng responded on social media regarding the "Abu Dhabi MGX $2 billion investment in Binance," stating, "There are no betting clauses, and there is no strategy (at least from my personal perspective)."

ChainCatcher news, Zhao Changpeng stated, "You may not have noticed that the news 'MGX invests in Binance' was directly published on X, Binance Square, and the blog. It was not released by any traditional media."

ChainCatcher news, according to @ai_9684xtpa's analysis, may be due to the dual positive impacts of Abu Dhabi's state-owned capital MGX investment and negotiations for the Trump family's stake, causing BNB to briefly break through $600, recovering nearly a week of losses.

ChainCatcher news, according to the official website of the Abu Dhabi investment firm MGX, MGX Chairman Tahnoun bin Zayed Al Nahyan is the Deputy Ruler of Abu Dhabi and National Security Advisor, and is the son of UAE founder Zayed bin Sultan Al Nahyan.It is reported that MGX was established by the Abu Dhabi Artificial Intelligence and Advanced Technology Committee (AIATC) in March 2024. This committee was formed in January 2024, with Tahnoon bin Zayed Al Nahyan serving as chairman, responsible for formulating and implementing policies and strategies related to artificial intelligence and advanced technology in the Emirate of Abu Dhabi.ChainCatcher previously reported that, according to official news, cryptocurrency exchange Binance and Abu Dhabi-based artificial intelligence and advanced technology investor MGX announced a $2 billion investment deal, which is Binance's first institutional investment to date, marking an important step for Binance in promoting digital asset adoption and enhancing the role of blockchain in global finance. This is the largest single investment in a cryptocurrency company and the largest investment in cryptocurrency (stablecoins) ever.

ChainCatcher news, according to official sources, cryptocurrency exchange Binance and Abu Dhabi-based artificial intelligence and advanced technology investor MGX have announced a $2 billion investment deal. This transaction marks Binance's first institutional investment to date, representing a significant step for Binance in promoting the adoption of digital assets and strengthening the role of blockchain in global finance. This is the largest single investment in a cryptocurrency company and the largest investment in cryptocurrency (stablecoins) ever.It is reported that this investment represents MGX's first foray into the cryptocurrency and blockchain space, acquiring a minority stake in Binance as part of a broader strategy to support the transformative impact of blockchain on society.

ChainCatcher news, according to The Information, the UAE artificial intelligence investment firm MGX is in investment talks with xAI, a company owned by Musk. According to private disclosures from representatives of both parties, xAI is discussing raising $5 billion at a valuation of about $45 billion. xAI is the developer of the Grok chatbot.If this round of investment is completed, it will be MGX's second significant investment in the field of large language models. The company, which was established 7 months ago, invested $6.6 billion in OpenAI last month. One of MGX's two main backers, Mubadala Investment Co., also purchased shares previously held by the bankrupt cryptocurrency exchange FTX through a subsidiary and invested in Anthropic.

ChainCatcher news, according to The Information, the artificial intelligence company OpenAI is in talks with institutions such as the UAE investment fund MGX to plan a large-scale financing round of up to $7 billion. After this round of financing, OpenAI's valuation could reach $150 billion. In addition to MGX, existing investors like Microsoft and Thrive Capital are also expected to participate.Due to the potential connections between Middle Eastern investors and China and Russia, this financing may face scrutiny from U.S. regulators. OpenAI is currently growing rapidly but is also consuming a large amount of capital, and this financing will be used to support its ongoing development and employee stock buybacks.

ChainCatcher news, according to official sources, the cross-chain exchange protocol Gasp based on EigenLayer is launching a cross-chain communication platform that provides substantial funding and high-speed trading for both enterprises and retail investors.As a native cross-rollup protocol, Gasp aims to facilitate gasless, MEV-protected, and rapid cross-rollup swaps. The protocol achieves this by utilizing technologies such as escape hatches, ZK proofs, and decentralized sequencers.What sets the Gasp approach apart is its decentralized mechanism that ensures trustless transactions, enhancing security and reducing risks compared to centralized single points of failure and other traditional bridging mechanisms. Gasp also eliminates the need for wrapped tokens.The team has designed a platform with features including: cross-chain liquidity pools and vaults, EigenLayer security, gasless transactions, an instant fund transfer ferry mechanism, and MEV protection to prevent front-running and sandwich attacks.Additionally, the official announcement recently stated that 3% of GASP will be airdropped to MGX testnet era holders, and they are currently exploring how to transition LP providers from Mangata to GASP, reserving an additional 4% of GASP supply for early community building incentives.

ChainCatcher news, according to Bloomberg citing informed sources, Abu Dhabi is establishing a technology investment company MGX, aiming to invest in the fields of artificial intelligence and semiconductors, with assets under management potentially exceeding $100 billion within a few years. MGX will be founded with sovereign wealth fund Mubadala and artificial intelligence company G42 as core partners, with Ahmed Yahia Al Idrissi, CEO of Mubadala's direct investment platform, serving as the CEO of the new entity.It is reported that MGX will be chaired by Sheikh Tahnoon bin Zayed Al Nahyan, the National Security Advisor of the United Arab Emirates, with Khaldoon Al Mubarak, CEO of Mubadala, serving as vice chairman. Other board members include Jassem Al Zaabi, Vice Chairman of the UAE Central Bank, G42 CEO Peng Xiao, and Al Idrissi.