B Strategy is a digital asset investment company founded by former Bitmain executives, planning to launch a $1 billion crypto treasury focused on investing in Binance's native token BNB.
According to a Monday announcement, this new BNB treasury is supported by the family office YZi Labs of Binance co-founder Changpeng Zhao.
A spokesperson for B Strategy told Cointelegraph that the structure of the new company will be similar to 10X Capital, which recently launched a BNB treasury with support from YZi Labs.
To fund its crypto treasury, 10X Capital raised $250 million in July with the help of YZi Labs, allocating the funds to accumulate and hold BNB as a long-term reserve asset.
"We plan to collaborate with a publicly listed company in the U.S. through a private placement," the representative stated. "After this private placement, the listed company will purchase BNB, shifting its business model to focus on holding and managing BNB assets as a dedicated treasury entity.
"We aim to be a bridge between the U.S. and Asian markets. Asian investors have a huge demand to enter the U.S. stock market, and they trust our team to help manage investments within this treasury strategy."
YZi Labs, formerly known as Binance Labs, is led by Ella Zhang and overseen by Binance's Changpeng Zhao.
According to the Cointelegraph Index, BNB is the fourth largest crypto token by market capitalization, valued at $120.3 billion at the time of writing. In addition to trading, BNB is also used for paying transaction fees, participating in staking, and governance, making it a core part of the broader Binance ecosystem.
In recent months, companies using BNB as a reserve asset have been emerging, with investors sending mixed signals through stock performance.
CEA Industries saw its stock price soar 550% after announcing its BNB treasury plan. Similarly, BMB Network Company's $500 million BNB treasury tool was oversubscribed in its latest funding round.
Forbes reported in June 2024 that Changpeng Zhao controls about 64% of the total supply of BNB.
Related: Hoarding coins does not equal a talisman: BNB hits new highs, but reserve company WINT delists
Original article: “B Strategy Supported by YZi Labs to Launch $1 Billion BNB Treasury Company”
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