The Binance-affiliated fund YZlabs has endorsed an investment in an institution, planning to acquire a NASDAQ-listed company, spending $1 billion to establish the BNB treasury, and then launching a BNB coin stock.
The reason it is said to be buying a NASDAQ-listed company is because the newly established company is unlikely to be listed on NASDAQ within a few weeks, so it can only buy a shell company for a reverse merger.
The last BNB coin stock supported by YZLabs was BNC, which today officially announced an ATM issuance of stocks to raise $50 million to continue hoarding BNB. This amount of $50 million seems too small compared to the $1 billion fundraising for the BNB treasury mentioned above, and today BNC's stock price opened with a nearly 8% drop.
It's still best to aim for being the only one; if that doesn't work out, at least strive to be the top brand!
