TL;DR
- YZi Labs and 10X Capital have launched a US-regulated BNB Treasury Company to amass BNB for American investors, with plans for a major stock-exchange listing.
- The firm is helmed by Galaxy Digital co-founder David Namdar, ex-CalPERS CIO Russell Read, and former Kraken director Saad Naja, backed by Cohen & Company and Clear Street underwriting.
- By treating BNB as a strategic reserve asset, echoing corporate Bitcoin treasuries and recent multi-million-dollar BNB buys, the company aims to offer audited, governance-driven exposure for institutions.
YZi Labs has thrown its weight behind 10X Capital’s new BNB Treasury Company, marking a milestone in altcoin treasury management. Designed as an independent U.S. vehicle, the firm will accumulate and oversee BNB holdings, granting American investors a regulated pathway into Binance’s native ecosystem. With sights set on a major U.S. stock exchange listing, this venture spotlights BNB’s ascent beyond simple utility tokens to core treasury assets.
Partnership Launch and Vision
The BNB Treasury Company springs from a strategic collaboration: YZi Labs, the family office investment firm founded by Binance’s ex-CEO Changpeng Zhao, and 10X Capital, a merchant-banking style asset manager. Together they aim to replicate the success of corporate Bitcoin treasuries, but with BNB at its heart.
By pooling YZi Labs’ $10 billion portfolio clout and 10X Capital’s capital markets expertise, the initiative seeks to offer transparent, compliance-driven exposure to BNB’s growth story.
Leadership and Institutional Expertise
Guiding the company is a lineup of industry heavyweights. David Namdar, co-founder of Galaxy Digital and veteran trader, takes on the CEO role. Russell Read, former CIO of CalPERS and the Alaska Permanent Fund brings decades of institutional investment acumen as 10X Capital’s CIO.
Rounding out the executive board is Saad Naja, ex-director at Kraken now steering strategy at global brokerage Exinity. To fund its initial BNB acquisitions, the firm has tapped Cohen & Company Capital Markets and Clear Street LLC, ensuring robust underwriting for its planned accumulation.
BNB Chain as Strategic Reserve Asset
While public companies have long hoarded Bitcoin, the BNB Treasury Company bets on Binance Coin’s $90 billion market cap and franchise in decentralized finance. The move follows Chinese firm Nano Labs’ $50 million BNB purchase and Build & Build’s $100 million fundraising push.
By concentrating solely on BNB, the treasury firm highlights the token’s significance in gas fees, governance, and DeFi advancements, placing it in the same category as central bank digital currencies and tokenized bank deposits within corporate financial statements.
Roadmap to U.S. Public Listing
Aiming for a debut on a leading U.S. exchange, the BNB Treasury Company promises audited holdings, clear governance, and active engagement with the BNB community. YZi Labs’ selective partnership philosophy ensures that official updates flow through authorized channels, while 10X Capital readies investor roadshows.
