Abu Dhabi entered the court for $ 2 billion in stablecoin!
But is this a bold investment or an attempt to close the Binance's dark history?
The MGX Fund from the UAE, led by the UAE presidential sister has been invested for $ 2 billion (RM8.87 billion) in Binance, making it the biggest investment into the crypto company so far.
Interestingly, the investment was made in stablecoin, making it the largest transaction paid in crypto currency.
The company is still being investigated in France for the control of loose customer funds, while in the United States, reports from two treasury agencies claim Binance failed to block transactions by groups such as Islamic State, Al-Qaeda, and Hamas armed wing.
But the big question is, why does UAE want to invest in this scandal company?
What exactly is the motive behind this step?
Does the UAE see Binance as the key to the future of digital finance, or is there a bigger agenda being played?
Now, with the fresh funds from the UAE, Binance will be back up or this is just a postponement before the next scandal erupts?
