Emirati state-owned firm MGX bought a minority stake in the crypto-trading platform entirely with stable coins. The investment marks MGX’s first in a cryptocurrency company since it launched last year with a focus on AI. (The Logic)
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Emirati state-owned firm MGX bought a minority stake in the crypto-trading platform entirely with stable coins. The investment marks MGX’s first in a cryptocurrency company since it launched last year with a focus on AI. (The Logic)
Talking point: Shortly after Binance announced the megadeal, The Wall Street Journal and Bloomberg reported that Binance held talks with members of U.S. President Donald Trump’s family about taking a stake in the U.S. arm of the business. The deal would tie Trump to a firm that pleaded guilty in 2023 to violating anti-money laundering laws and operating an unregistered money service business. The Journal also reported that Binance founder and former CEO, Chinese-Canadian Changpeng Zhao, is seeking a pardon from Trump after serving four months in prison following the plea. Zhao said the Journal “got the facts wrong” and blamed the reports on “residual forces of the ‘war on crypto’ from the last administration.”
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