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🌙 Abu Dhabi-Based MGX Capital Has Invested $2B in Binance

The $2B investment is also the single largest investment into a crypto company and the largest investment paid in crypto.

Author

Mike Gavela
March 12, 2025

Crypto Roundup - March 12

Abu Dhabi-based MGX Capital has invested $2 billion in Binance, a significant endorsement of the cryptocurrency exchange's financial health and future prospects. Meanwhile, the U.S. House of Representatives has voted to repeal a contentious tax rule for crypto brokers, potentially easing reporting requirements and operational burdens in the crypto industry. In economic news, February's Consumer Price Index (CPI) report shows an increase in tariffs, hinting at potential inflationary pressures that could impact markets, including cryptocurrencies.

Top Stories

  • MGX Capital invests $2B: This investment into Binance underscores significant confidence in the crypto exchange amid broader market uncertainties.

  • Crypto broker tax rule repealed: The House's decision may reduce the regulatory load on crypto brokers, fostering a more business-friendly environment.

  • Tariff-induced inflation concerns: Rising tariffs could lead to higher inflation, influencing crypto market dynamics.

TOP STORIES

Binance Secures Landmark $2B Investment From Abu Dhabi-Based MGX

Binance secures a $2 billion investment from Abu Dhabi-based MGX, reinforcing its position in the digital asset market.

cryptonews.com/news/abu-dhabi-based-mgx-backs-binance-with-2b-investment

House Votes to Repeal Controversial Crypto Broker Tax Rule on Bankless

The U.S. House has voted to repeal an IRS tax rule that had been a headache for the crypto industry.

www.bankless.com/read/house-votes-to-repeal-controversial-crypto-broker-tax-rule

Inflation print calms markets, but tariffs still loom

Commerce Secretary Howard Lutnick this morning said tariffs are “worth it” even if they plunge the US economy into recession territory.

blockworks.co/news/february-cpi-print-tariffs

FUNDRAISING

OTHER HEADLINES

Whale’s Nine Figure ETH Liquidation Costs Hyperliquid $4 Million - "The Defiant"

The massive liquidation sparked concerns over market manipulation and the decentralized exchange’s liquidity and risk management.

thedefiant.io/news/defi/whale-s-nine-figure-eth-liquidation-costs-hyperliquid-usd4-million

Ethereum Exchange Outflows Hit $1.8B Last Week - "The Defiant"

ETH recorded the biggest outflow from exchanges since 2022 as it posts its lowest weekly close since November 2023.

thedefiant.io/news/markets/ethereum-exchange-outflows-hit-usd1-8b-last-week

Stablecoin Market Cap Hits New All-Time High of $234.8 Billion - "The Defiant"

Competition is growing as stablecoins undergo a renaissance in connecting with traditional finance.

thedefiant.io/news/defi/stablecoin-market-cap-hits-new-all-time-high-of-usd234-8-billion

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