Abu Dhabi Makes $2B Investment in Binance, 26% of U.S. HNWI Already Own Crypto (#206 - March 16)

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1. Abu Dhabi Makes $2B Investment in Binance?

The investment is made by MGX, which was established in March 2024 by the AI and Advanced Technology Council (AIATC) in Abu Dhabi.

The AIATC, launched in January 2024 under the chairmanship of H.H. Sheikh Tahnoon bin Zayed Al Nahyan, is responsible for shaping and implementing policies and strategies related to AI and advanced technology in the Emirate of Abu Dhabi.?

It's worth noting that H.H. Sheikh Tahnoon bin Zayed Al Nahyan is the Chairman of the MGX Board of Directors and is the Deputy Ruler of Abu Dhabi.

The $2 billion investment is the single largest investment in a crypto company, the largest investment paid in crypto (stablecoin), and the first institutional investment in Binance.

This is a strategic move for Binance, considering that 1,000 of its 5,000 employees are based in the UAE. Additionally, its founder, CZ, is reportedly a UAE citizen.

This is also a highly strategic move for the UAE. In addition to Binance being the largest and highly profitable crypto exchange globally, this investment further solidifies the UAE’s role in the global crypto ecosystem.

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2. 26% of HNWI Americans with Investible Assets of $1M+ Own Crypto?

Grayscale released their latest report with interesting data on U.S. investors.?

26% of U.S. HNWI investors with investable assets of $1 million or more already own crypto. The data that is even more interesting is that almost 40% of these HNWIs expect their investment portfolios to include crypto in the future.

Unsurprisingly, age plays a significant role. Fifty-three percent of high-net-worth individuals? in the U.S. under the age of 50 anticipate having crypto in their portfolios, compared to only 22% of those over 50.

This will be music to the ears to the thousands of investment advisors in the U.S. that are always trying to come up with new products to get the attention of their clients.

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Henri Arslanian

*Please note that this newsletter reflects Henri’s personal views and not those of any organisation he is involved with. This newsletter is for educational purposes only, and none of its content should be construed as investment or financial advice of any kind.