US, UAE Strengthen AI, Crypto Ties with $2 Billion Binance Investment
1min read On March 20, 2025, a significant meeting took place between David Sacks, the US Special Advisor on AI and Crypto, and Sheikh Tahnoon Bin Zayed Al Nahyan, the Chairman of Abu Dhabi’s investment fund mgx. This meeting marked a pivotal moment in the technological cooperation between the US and the UAE, opening new avenues for collaboration in artificial intelligence (AI) and cryptocurrency.
Sheikh Tahnoon, a prominent figure in the UAE, is the brother of the UAE President and serves as the country’s National Security Advisor. He also chairs MGX, an investment fund established in 2024 to promote AI and blockchain technologies. In a post on X, Sheikh Tahnoon highlighted the transformative effects of AI across various sectors, the expanding role of digital currencies in reshaping financial systems, and the investment opportunities emerging at their convergence. He stated, “I explored with David Sacks, the Special Advisor on AI and Crypto, the transformative effects of artificial intelligence across various sectors, the expanding role of digital currencies in reshaping financial systems, and the investment opportunities emerging at their convergence.”
Ask Aime: How does the meeting between David Sacks and Sheikh Tahnoon Bin Zayed Al Nahyan impact the UAE's investment in AI and crypto technologies?
This meeting occurred just one week after MGX announced a $2 billion investment in Binance, the world’s largest cryptocurrency exchange. Notably, MGX conducted this investment using stablecoins, making it the largest crypto-based investment transaction ever. Under Sheikh Tahnoon’s leadership, MGX is emerging as a major AI investor with allocations across various AI sectors. The fund has also invested in OpenAI, Elon Musk’s xAI, and Amazon-backed Anthropic. Additionally, MGX is one of the key backers of Stargate, a $100 billion data center project led by SoftBank and OpenAI, announced at the White House.
This meeting was part of a broader series of diplomatic engagements between the US and the UAE. On March 18, President Trump announced that he had hosted Sheikh Tahnoon for dinner at the White House. They discussed economic and technological cooperation, with President Trump stating, “Discussions also included ways for our countries to increase our partnership for the advancing of our economic and technological futures.”
In summary, the meeting between David Sacks and Sheikh Tahnoon Bin Zayed Al Nahyan underscored the growing importance of AI and cryptocurrency in global technological advancements. The collaboration between the US and the UAE in these areas is expected to yield significant investment opportunities and technological breakthroughs, further solidifying their partnership in the realm of innovation and economic development.
