Who is Binance's biggest backer? Answer: Abu Dhabi. Today on Bloomberg's homepage, it was reported that Abu Dhabi is planning to invest $16 billion to expand its financial hub, adding more office buildings, luxury residences, and commercial spaces. This is because global hedge funds and financial firms are flocking to Abu Dhabi. For example, in the past few weeks, private equity giant KKR and hedge fund giant Man Group have both announced plans to set up offices in Abu Dhabi. The demand for space has clearly outgrown the supply. At the same time, earlier this year, Binance, which received investment from Abu Dhabi's national team MGX, recently secured three exclusive licenses from Abu Dhabi's financial regulators in one go. These licenses allow Binance to legally operate an exchange, handle custody and settlement, and provide OTC fiat services in Abu Dhabi. Binance has now officially announced that it is relocating its global operations to Abu Dhabi. Previously, in Q3 of this year, the Abu Dhabi Investment Authority significantly increased its holdings in Bitcoin ETFs, tripling its position size. As a result, Abu Dhabi now holds a substantial amount of BTC, a leading crypto exchange, and a growing number of crypto employees based locally.