The chairman of the MGX board is the Deputy Prime Minister of Abu Dhabi and the son of the founder of the UAE

ChainCatcher news, according to the official website of the Abu Dhabi investment firm MGX, MGX Chairman Tahnoun bin Zayed Al Nahyan is the Deputy Ruler of Abu Dhabi and National Security Advisor, and is the son of UAE founder Zayed bin Sultan Al Nahyan.

It is reported that MGX was established by the Abu Dhabi Artificial Intelligence and Advanced Technology Committee (AIATC) in March 2024. This committee was formed in January 2024, with Tahnoon bin Zayed Al Nahyan serving as chairman, responsible for formulating and implementing policies and strategies related to artificial intelligence and advanced technology in the Emirate of Abu Dhabi.

ChainCatcher previously reported that, according to official news, cryptocurrency exchange Binance and Abu Dhabi-based artificial intelligence and advanced technology investor MGX announced a $2 billion investment deal, which is Binance's first institutional investment to date, marking an important step for Binance in promoting digital asset adoption and enhancing the role of blockchain in global finance. This is the largest single investment in a cryptocurrency company and the largest investment in cryptocurrency (stablecoins) ever.