MGX's $2 billion equity financing with Binance, rather than saying Binance has provided equity, it is more accurate to say they have gained a "backing" in global strategy.
1️⃣ Is this good news? Yes, undoubtedly.
With the news of the financing spreading, today $BNB continues to rise, breaking $580. News can be persuasive, but prices do not lie.
2️⃣ Political strategic protection.
There are rumors within the community that Binance is not favored in the U.S. or China, and this time Binance has truly gained a "backing" in the Middle East.
MGX is an investment institution established by the Abu Dhabi Artificial Intelligence and Advanced Technology Committee. Although the fund has only been established for a year, the direct investor is indeed the government of Abu Dhabi in the UAE.
Having seen various policies imposing "protection fees" on exchanges, with the direct endorsement and support of the UAE government, it is believed that Binance will also mitigate the impact of various baseless regulatory policies.
3️⃣ What has MGX invested in?
OpenAI, xAI (founded by Musk), etc. It seems this institution places great importance on global strategy.
4️⃣ Rebuilding industry confidence.
In the current climate where ETH is not favored, many are shouting that the bear market has arrived. This fund investment indicates that the industry is being accepted by mainstream and traditional financial systems, and it injects a small dose of "steroid" into the declining bull market.
By the way: If $BNB rises two more times, it will surpass $ETH.
As long as $BNB works hard, $ETH can keep "working hard" too.
Who knows, we might really see the day when it surpasses Ethereum's market value.
1️⃣ Is this good news? Yes, undoubtedly.
With the news of the financing spreading, today $BNB continues to rise, breaking $580. News can be persuasive, but prices do not lie.
2️⃣ Political strategic protection.
There are rumors within the community that Binance is not favored in the U.S. or China, and this time Binance has truly gained a "backing" in the Middle East.
MGX is an investment institution established by the Abu Dhabi Artificial Intelligence and Advanced Technology Committee. Although the fund has only been established for a year, the direct investor is indeed the government of Abu Dhabi in the UAE.
Having seen various policies imposing "protection fees" on exchanges, with the direct endorsement and support of the UAE government, it is believed that Binance will also mitigate the impact of various baseless regulatory policies.
3️⃣ What has MGX invested in?
OpenAI, xAI (founded by Musk), etc. It seems this institution places great importance on global strategy.
4️⃣ Rebuilding industry confidence.
In the current climate where ETH is not favored, many are shouting that the bear market has arrived. This fund investment indicates that the industry is being accepted by mainstream and traditional financial systems, and it injects a small dose of "steroid" into the declining bull market.
By the way: If $BNB rises two more times, it will surpass $ETH.
As long as $BNB works hard, $ETH can keep "working hard" too.
Who knows, we might really see the day when it surpasses Ethereum's market value.