B strategy, a digital asset investment firm founded by former Bitmain executives, is planning to launch a $ 1 billion crypto treasury -focused in BNB, the native token of the Binance ecosystem.
According to a Monday announcement, the new BNB (Bnb) Treasury is Backed By Yzi Labs, the office of co-founder Changpeng Zhao’s family.
The new company will be repaired similarly to the 10X Capital, which recently launched a BNB Treasury with the support of YZI LABS, a spokesman for the B’s approach to Cointelegraph.
To fund its crypto treasury, 10x capital Raised $ 250 million with the help of Yzi Labs In July, the provision of capital to accumulate and hold BNB as a long-term property reserve.
“We plan to work with a company listed in the US through a private placement,” the representative said. “Following the capital injection from this placement, the listed company will buy BNB, which will transfer the business model to focus on handling and managing BNB assets as a dedicated Treasury entity.
https://www.youtube.com/watch?v=TibyWFBYKGM
“We aim to serve as a bridge between US and Asian markets. There is a significant need from Asian investors looking for access to the US stock market, and they trust our team to help manage their investments within this approach to the ark.”
The Yzi Labs, formerly known as Binance Labs, was led by Ella Zhang and is administered by Zhao by Binance.
Related: ‘Rich in US prisoner’: How did the founder of Binance CZ get there?
BNB treasury companies are rising and falling
According to In cointelegraph indexes, BNB is the fourth largest crypto token by market capitalization, worth $ 120.3 billion in this writing. Beyond trading, BNB is used to pay transaction fees, participate in staking and management, making it center throughout Binance’s wider ecosystems.
Companies that embrace BNB as a reserving possession have emerged in recent months, along with investors sending mixed signals through stock performance.
CEA Industries Shares SURGED 550% After the company opens plans for a BNB Treasury. Similarly, BMB Network Company’s $ 500 million vehicle is $ 500 million BNB treasury vehicles is oversubscribe In the latest funding of funding.
Forbes reported in June 2024 that Zhao Controls about 64% of the entire supply of BNB.
Magazine: Crypto City Guide to Seattle: CZ’s Downfall and Pot Crypto vendor site
