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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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Gaming
Roblox appoints Sunil Rao as India managing director to drive growth
Former AWS leader to lead creator ecosystem, partnerships and local strategy
MUMBAI: Roblox has appointed Sunil Rao as managing director for India, as the company looks to deepen its footprint in one of its fastest-growing markets.
Rao, who will join in May, will serve as the senior-most representative for Roblox in India, leading local strategy, partnerships and day-to-day operations. His mandate includes strengthening the platform’s presence, supporting the creator ecosystem and aligning India’s market needs with global priorities.
A key focus area will be nurturing India’s growing community of developers and creators, enabling local studios to leverage Roblox’s tools for scaling and monetisation. Globally, the platform’s creator community earned over $1.5 billion in 2025, underlining the economic potential of user-generated content ecosystems.
“Roblox is at the forefront of enabling a new generation of creators and games. India’s scale, creativity, and entrepreneurial energy present a massive opportunity,” said Rao. “I’m excited to build a vibrant and inclusive ecosystem that empowers developers and creators across the country. Ensuring child safety and aligning closely with India’s regulatory framework will be among my top priorities.”
Welcoming the appointment, Roblox vice president international Zhen Fang said India represents a high-potential market for the company. “Sunil brings deep expertise in building operations across diverse markets, and his passion for community-centric platforms makes him the ideal leader to drive our next chapter of growth in the country.”
Rao brings over two decades of experience across technology platforms, venture capital and developer ecosystems. He was previously part of the leadership team at Amazon Web Services, where he led strategy and corporate business development across Asia-Pacific and Japan. He also served as a partner at Lightspeed Venture Partners, working closely with startups and founders.
Earlier in his career, Rao played a key role in building developer ecosystems at Symbian, Nokia and Google, contributing to the growth of major mobile and internet platforms.
With India’s large youth population and rapidly evolving digital landscape, Roblox’s latest leadership move signals a sharper focus on long-term growth, local relevance and creator-led innovation in the market.
