Russia’s Central Bank Offers Crypto + Franklin Templeton Files for Solana ETF📈
Institutional Moves Reshape Crypto as MGX Backs Binance, Russia Explores Regulations, and Franklin Templeton Targets Solana.
Because Bitcoin
March 12, 2025
MGX Makes $2 Billion Investment in Binance, Marks First Institutional Backing for Crypto Exchange
MGX, a technology investment firm based in Abu Dhabi, has made a $2 billion investment in Binance, marking its first venture into the crypto and blockchain space. The deal also includes MGX acquiring a minority stake in Binance. The partnership aims to foster innovation in AI, blockchain, and digital finance. This investment, made through stablecoin, is Binance’s first institutional funding. MGX’s CEO, Ahmed Yahia, emphasized the importance of secure and scalable blockchain infrastructure as institutional adoption accelerates.
👉CHECK OUT BB PREMIUM
Russia Proposes Crypto Investment Regulations for Wealthy Individuals
Russia’s central bank has proposed a new regulatory framework allowing wealthy individuals and businesses to participate in a three-year experimental crypto-investing regime. This initiative targets “specially qualified” investors, defined by having over 100 million roubles ($1.15 million) in investments or an annual income exceeding 50 million roubles. The move marks a shift from the bank’s previous stance against cryptocurrencies, following a law passed last year that permits crypto use in international trade to circumvent Western sanctions. However, cryptocurrencies will still be banned as a payment method. The central bank aims to enhance market transparency while warning investors of crypto’s risks.
👉CHECK OUT BB TERMINAL
Franklin Templeton Files for Solana-Based ETF, Marking Major Step for Crypto Funds
Cboe BZX Exchange, on behalf of Franklin Templeton, has filed a 19b-4 with the U.S. Securities and Exchange Commission to list and trade shares of the Franklin Solana ETF. Franklin Templeton, the largest asset manager with over $1.5 trillion in assets, is the biggest firm to propose a Solana-based exchange-traded fund. This filing follows a similar move for a spot XRP ETF and comes amidst a surge in altcoin ETF proposals. While analysts expect high chances of approval for altcoins like Litecoin and Dogecoin, the Solana ETF filing still carries significance, particularly given Franklin Templeton’s involvement.
Resources: