The former Binance team will create a fund to accumulate BNB and list it on an exchange in the USA.
The venture firm YZi Labs (formerly Binance Labs) will support the launch of a publicly registered investment company in the USA that will focus on accumulating the BNB token. The project is being implemented in collaboration with the investment firm 10X Capital, which plans to list the fund on one of the largest American stock exchanges.
The fund will concentrate solely on BNB and the BNB Chain ecosystem. David Namdar, co-founder of Galaxy Digital, will be the manager. 10X Capital will be responsible for strategy and capital raising. The amount of investment has not yet been disclosed.
The project continues the trend of forming crypto reserves in the spirit of Strategy, but now for altcoins. Previously, Binance founder Changpeng Zhao stated that over 30 teams are considering launching investment funds focused on BNB.
At the end of June, the Nasdaq-listed company Nano Labs announced its strategy for accumulating BNB tokens by gradually purchasing tokens worth $1 billion (~10% of the total BNB supply). Commenting on this, Zhao wrote on X that after the announcement, shares of Nano Labs "skyrocketed."
