B Strategy is a digital asset investment company founded by former Bitmain executives, planning to launch a $1 billion crypto treasury focused on investing in Binance's native token—BNB.
According to Monday's announcement, this new BNB treasury is supported by the family office YZi Labs of Binance co-founder Zhao Changpeng.
The new company will adopt a structure similar to 10X Capital, which recently launched the BNB treasury with the support of YZi Labs. A spokesperson from B Strategy told Cointelegraph.
10X Capital raised $250 million in July with the help of YZi Labs to accumulate and hold BNB as a long-term reserve asset.
"We plan to collaborate with a listed company through a private placement," the representative said, "after this investment, the listed company will purchase BNB, transforming its business model to focus on holding and managing BNB assets as an independent treasury entity."
"We aim to be a bridge between the US and Asian markets, as Asian investors have a huge demand to enter the US stock market, and they trust our team to help manage their investments in this treasury strategy."
YZi Labs is led by Ella Zhang, with Binance's Zhao Changpeng serving as an overseer.
The ups and downs of the BNB treasury company
According to the Cointelegraph Index, BNB is the fourth largest cryptocurrency by market capitalization, currently valued at $120.3 billion. BNB is not only used for trading but also for paying fees, participating in staking, and governance, playing an important role in Binance's extensive ecosystem.
In recent months, companies accepting BNB as a reserve asset have been emerging, with investors reacting differently to its stock market performance.
Shares of CEA Industrial Company soared 550% after the announcement of the BNB treasury plan. Similarly, the $5 million BNB treasury of BMB Network was oversubscribed in a recent funding round.
Forbes reported in June 2024 that Zhao Changpeng controls 64% of the entire BNB supply.
