Crypto’s Latest Obsession: BNB

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Oh joy, another day, another crypto thingy 🤯. YZi Labs (aka Binance Labs’ cool new rebrand) is backing a shiny new digital asset treasury firm that’s all about BNB, because who doesn’t love a good BNB-filled life? 💸

This new initiative, announced in a press release that I’m sure you all read with bated breath, will be called BNB Treasury Company (catchy, right?) and plans to IPO on a major American stock exchange, because what could possibly go wrong? 🤔

The goal, because you need one of those, is to give U.S. investors a regulated way to get their hands on some BNB (the fourth-largest cryptocurrency, FYI) and join the BNB Chain party, which is apparently still a thing 🎉. BNB Chain, for those who don’t know, is like the cool kid on the blockchain block, powering millions of users and thousands of decentralized apps 🤖.

But, because U.S. investors have been left out of the BNB fun (poor them), this new company is here to save the day, developed in partnership with 10X Capital, a digital asset investment firm that’s done this sort of thing before (successfully, one hopes) 🤝.

The project has some big names attached, because who doesn’t love a good exec lineup? 🤝 David Namdar, co-founder of Galaxy Digital, is on board, along with Russell Read, former chief investment officer for CalPERS and Deutsche Asset Management (try saying that three times fast) 🤯. And let’s not forget Saad Naja, previously a director at Kraken and now on the board of Exinity (because who doesn’t love a good board seat?) 📈.

10X Capital will be the asset manager, because someone has to adult here, working with Cohen & Company Capital Markets and Clear Street LLC to raise funds for the initial BNB purchases ( sounds like a fun party 🎉). The financing round is expected to close in the coming weeks, because who doesn’t love a good deadline? ⏰

“By supporting this initiative, we aim to combine the strengths of the BNB ecosystem with 10X Capital’s institutional asset management and capital markets expertise,” said Ella Zhang, head of YZi Labs, because someone has to say something profound 💡.

This new company is just one of many treasury entities jumping on the BNB bandwagon ( Build & Build Corporation is reportedly raising $100 million to accumulate BNB, while Nano Labs has already committed $50 million and is targeting a position worth up to $1 billion, because who doesn’t love a good BNB-filled piggy bank? 🐖).

BNB Treasury Company plans to be all transparent and community-y, because that’s what the cool kids do 🤝. If successful, it could become a key vehicle for bridging U.S. capital markets and one of crypto’s most active networks, because who doesn’t love a good bridge? 🌉

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2025-07-10 09:00