BLOCKCHAIN BUILDING

Abu Dhabi’s MGX puts $2 billion into Binance crypto exchange

The tech fund, created last year by G42 and the Mubadala sovereign wealth fund, has also invested in OpenAI and Elon Musk’s xAI

EVELYN HOCKSTEIN/Getty Images

MGX Chairman Sheikh Tahnoon bin Zayed met last month with U.S. Secretary of State Marco Rubio

Having set leadership in the emerging realm of digital assets as a national goal, the UAE is extending its embrace of Binance, the world’s biggest crypto exchange.

MGX, the tech investment fund created by Abu Dhabi’s Mubadala sovereign...