Investment Bank China Renaissance Plans $ 600m BNB Treasury with Yzi Labs: Bloomberg
Hong Kong listed in the Investment Bank China Renaissance is seeking to raise $ 600 million to introduce a public crypto treasury dedicated to BNB, the Native BNB chain token which is widely used for discounts on Binance fees.
The project, if completed, will mark one of the largest single bets on BNB through a listed public creature. BNB’s largest chapters in companies that have been publicly exchanged with the CEA industries, earlier this month has risen Total token handling to 480,000.
The proposed investment vehicle will develop in the United States and outlined as a company that has been exchanged with the public, specifically designed to buy and hold BNB, The Bloomberg report cites resources familiar with the deal.
The YZI LABS, the $ 10 billion office of Binance co-founder Changpeng Zhao’s family, is planning to invest next to the investment bank.
BNB has more than double the price this year, and quickly recovered from recently -what $ 500 billion crashing in the crypto market. Zhao’s family office has been reported to have been actively actively organizing the investor’s interest, recently hosting a Singapore dinner entitled “BNB Visionary Circle: Not igniting the next trillion,” which signed ongoing appetite in BNB-Senric investments.
The price of BNB has released the market since, up to 5.4% in the last seven days, while major tokens including Bitcoin and Ether have dropped significantly during the time. The wider market, as measured by Coindesk 20 (CD20) Index, dropped by 8.45% in the last 7 days.
