#BinanceTurns8 Binance co-founders Changpeng 'CZ' Zhao and Yi He , through their investment firm YZi Labs , have confirmed they will back 10X Capital (VCXA) in a new venture. The publicly traded investment firm aims to create a US-based company that will invest exclusively in BNB CZ's YZi Labs supports 10X Capital in its BNB treasury strategy10X Capital today announced the launch of the first publicly traded U.S. company that will focus exclusively on being a BNB treasury , similar to what Strategy did with Bitcoin and Sharplink Gaming with Ethereum .The venture is backed by YZi Labs , the investment firm of Binance co-founders CZ and Yi He , and will be led by Russell Read , CIO of 10X Capital; David Namdar , co-founder of Galaxy Digital; and Saad Naja , former director of Kraken Exchange.10X Capital intends to pursue a public listing for its treasury firm BNB, marking an unprecedented move. The BNB token is currently the fifth-largest digital asset by market cap , valued at $98 billion and priced around $670 .Speaking on the announcement, Ella Zhang , Head of YZi Labs, said:“ BNB Chain is one of the most widely adopted blockchain ecosystems. BNB is the gas , the glue , and the governance layer for a decentralized and scalable future—powered by builders, for builders, and we believe expanding institutional access can bring significant benefits to the broader public.”According to the release, the BNB treasury firm will emphasize transparency and verification of reserves , strong engagement with the BNB ecosystem and community , and plans to announce the closing of its funding in the coming weeks. 10X Capital Follows Michael Saylor's Model with First BNB TreasuryThe new company will focus exclusively on the BNB Chain ecosystem , 10X Capital said, referring to the blockchain that supports the BNB token, following Saylor's model for public companies transforming into digital asset treasury firms
